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Netflix has seen Impressive Growth Thanks to the Coronavirus

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The new Coronavirus (Covid-19) has been the main problem on a global scale since the beginning of the year. To try to prevent the spread of the virus, millions of people are confined to their homes and it seems that Netflix was one of the companies that most profited from this paradigm.

According to its latest figures, the streaming service has grown by 15.8 million subscribers in recent months. This figure is more than double what Netflix predicted for the first months of the year (7 million).

This is the result of a confinement that takes place all over the world. With people rushed home 24 hours a day, ways must be found to pass the time.

Netflix

Streaming services for series and films is one of the most desirable proposals. As Netflix is ​​the reference in this field, it is natural that many have succumbed to the platform’s offers.

Netflix predicts a slowdown in new subscribers in the second half of the year

Although the first quarter of the year was very good for Netflix, the momentum is not expected to continue in the months ahead. For the current quarter, the company forecasts growth of only 7.5 million, with the number expected to shrink even further between July and December.

The reasons for this are quite obvious. First, those who signed up for paid service in the first quarter will no longer do so in the months that follow.

Second, we have the expected survey of health restrictions worldwide. In the coming months, the Covid-19 pandemic is expected to begin to subside and people will no longer be at home for so long.

Still, Netflix’s revenue in the past few months was $ 5.77 billion. This figure is the result of a total of 182.9 million subscribers worldwide.

Poorva Virmani
As Global Chief Creative Officer at TechGrits, Poorva helps team ambition to burnish the media's creativity product and reputation.

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