Netflix Reaches 195 Million Worldwide Subscribers, But Adds Just 2.2 Million in Q3 2020
This year has been great for Netflix and the streamer’s upward trajectory continues. The company announced they reached 195.15 million subscribers in the Q3 2020, up 2.2 million this quarter. However, the company added just 2.2 million this quarter (compared to 6.8 million in the same quarter last year), as a result of what the company says is “our record first half result and the pull-toward effect.”
In July, the the streaming giant announced they reached nearly 193 million global subscribers in their Q2 2020 earnings report. That was up 10 million from the nearly 183 million global subscribers at the end of Q1, and even higher than the 167 million global subscribers and 61 million U.S. subscribers they reached in Q4 2019.
In the U.S. and Canada, Netflix now has 73 million subscribers, up just 180,000 subscribers from last quarter. In the third quarter last year, they added 610,000 in U.S. and Canada.
The streaming service is also predicted to reach 500 million subscribers by 2030. RBC analyst Mark Mahaney believes the platform will grab 57 percent of broadband households worldwide versus the 29 percent share it has now, reported The Street.
Though Netflix retains majority of the market share, Disney+ has presented itself as a formidable competitor. The streamer was reported to have reached 60.5 million subscribers as of August 3rd, having reached 57.5 million subscribers at the end of the third quarter in June 2020. Disney’s other streaming service, Hulu, has 35.5 million subscribers in the U.S. as of the last quarter.
In their letter to shareholders, Netflix said, “This past quarter, we saw the debut of Comcast’s Peacock, which comes on the heels of the launch of HBO Max and Disney+. Disney’s recent management reorganization signals that it is embracing the shift to streaming entertainment. We’re thrilled to be competing with Disney and a growing number of other players to entertain people; both consumers and content creators will benefit from our mutual desire to bring the best stories to audiences all over the world.”
Internationally, Netflix’s biggest competitor is Amazon Prime Video, which is bundled with Prime is most markets. While they have never disclosed Prime Video subscribers, there are more than 150 million Amazon Prime subscribers worldwide.