Looks like the pandemic isn’t so bad for some. According to reports, Netflix has gained a massive growth of 16 million new global subscriptions in Q1, exceeding the expected goal by double the amount. Totaling up to 182.9 million paid subscribers globally at the end of Q1, the streaming giant has increased its members by 22.8 percent since the previous year.

Huge original shows like Tiger King that lured in 34 million unique viewers in the show’s first 10 days becoming one of the biggest ever Netflix originals are surely responsible for the growth they did not predict, mainly due to the uncertainty of the coronavirus pandemic’s course of events leading to worldwide lockdown. “Our membership growth has temporarily accelerated due to home confinement,” Netflix stated in their latest shareholder letter, as well as reporting that “some cash spending on content will be delayed, improving our free cash flow, and some title releases will be delayed, typically by a quarter.”

 

Posted by:Staff

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