Netflix subscribers hit 221 million in 2021 as paid adds miss mark

Netflix stock dives by 21% as the company misses paid subscriber growth targets, current subs at 221.8 million worldwide.

@DeekeTweak
Published Fri, Jan 21 2022 12:22 PM CST   |   Updated Thu, Feb 17 2022 6:31 PM CST

Netflix's Q4 earnings show an 18% increase in revenues and 221.8 million total paid subscribers.

Netflix subscribers hit 221 million in 2021 as paid adds miss mark 12 | TweakTown.com
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Netflix's subscriber numbers have missed the company's internal estimates by 220,000. The service now has 221.84 million worldwide subscribers, however executives expected total subscribers to hit 222.06 million. Total revenues for 2021 were $29.697 billion, up nearly 19% over last year's $24.996 billion.

Netflix subscribers hit 221 million in 2021 as paid adds miss mark 10 | TweakTown.com

Net income during the period was $5.116 billion, up a mighty 85% over 2020. However operating profit was down -83% to $392 million due to rising costs of asset contents and operating assets. Cash from financing was also at a $1 billion loss due to a $500 million repayment of debt, a $600 million payment for share repurchases, and $224 million withheld for taxes on equity awards.

Netflix's cash position in 2021 was reduced to $6 billion, down from $8 billion in 2020.

Company stock has slid nearly 21% following the financial report, which also was influenced by the miss on paid subscription adds.

Netflix subscribers hit 221 million in 2021 as paid adds miss mark 11 | TweakTown.com
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Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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