Netflix is the leader in the digital space and the OTT platform has millions of subscribers in each country. Netflix added 13.1 million followers across the globe in the fourth quarter. The digital streaming platform now has 260.8 million paid subscribers and this is a record. The shares of Netflix went up after the results of the fourth quarter were officially out. Netflix also reported a net income of 937.8 million USD for the year and 8.83 billion USD in the fourth quarter.
Netflix is focused on profits for the financial year after it faced hurdles in the past few years. Several OTT players are struggling to make profits while Netflix is spending more on the content and the digital platform is not ready for collaborations. Netflix also announced the streaming of WWE Raw from next year. Password crackdown implemented by Netflix worked big time and the digital platform is also focused on ad-support tiers to generate more revenue.
