Netflix exceeded 200 million subscribers with a stronger-than-expected performance in the last quarter of 2020, according to its latest financial results.

The streaming service predicted that it would add around 6 million new customers in the last three months of the year but actually added 8.51 million to take the total worldwide subscriber base to an impressive 203.7 million.

For the entire year, Netflix added a record 36.6 million subscribers, helped massively by the various coronavirus lockdowns around the world and the launch of shows such as Tiger King and The Queen's Gambit, as well as the fourth season of The Crown.

In an update for investors, the streamer revealed that it has more than 500 titles currently in post or ready to launch, while it aims to release an original movie every week in 2021.

Netflix's strong performance comes despite the impressive launch of rival Disney+, which has already amassed 87 million subscribers, as well as price rises in most territories around the world.

The cost of a premium subscription, which allows up to four people to watch at the same time, is rising from £11.99 a month to £13.99 a month in the UK, while a standard subscription - two screens a month - is going up by a pound to £9.99 a month.