Netflix has broken record for subscribers growth (Topic)

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Netflix has broken record for subscribers growth

Image In the first quarter of 2020, the streaming platform Netflix, thanks to the coronavirus pandemic, received 15.77 million new subscribers, which is several times higher than previous figures. The company reported that at the end of March, there were 182.9 million paid accounts worldwide, which is 22.8% more than at the end of 2019. Netflix previously predicted 7 million subscriptions in the quarter, but that was before the COVID-19 virus forced many people to stay at home. Now, after taking stock of the first three months, the company expects growth to slow for the rest of the year following the end of the quarantine.

"Our subscriber growth has temporarily accelerated due to the self-isolation of viewers," Netflix said in a regular letter to the company's shareholders. The service also clarified that due to the suspension of content production in Hollywood, funding for some shows will be postponed, and some premieres will be postponed about three months later. Among other negative consequences of the coronavirus pandemic, Netflix named a decrease in international income due to the "sharply appreciated US dollar". The company also experienced disruptions to its customer support, but quickly resolved the issue.


Wall Street experts' estimates of how big Netflix's "quarantine hike" would be in the first quarter were mixed, but no one could have predicted 16 million subscriptions. Some analysts expected the company to meet its 7 million new viewers forecast, while others predicted an increase of 8.5-10 million. Netflix is forecasting an additional 7.5 million paid subscriptions for the second quarter of 2020. "We hope that progress in the fight against the virus will allow countries to soon lift their self-isolation regime," says a letter to shareholders. -When this happens, we expect a drop in the number of views and a slower growth in subscriptions. ”

During the quarter, the Tiger King: Murder, Chaos and Madness, a documentary crime miniseries, became one of the most watched shows on Netflix. According to analysts, the program gained 34.3 million unique viewers in the first 10 days from the date of its premiere, surpassing the figure for the second season of Mysterious Events in the same period.


In a letter to shareholders, Netflix also cited details of the streaming platform's original content popular with subscribers. It should be noted that the analytics of the service takes into account the number of clicks on the title and views for at least two minutes. Be that as it may, the top was "King of the Tigers" (64 million accounts), the full-length film "Wonderland" (85 million) and the romantic reality show "Love is Blind" (30 million). The hit among the programs in Spanish was the documentary "Paper House" (65 million), which premiered on the platform on April 3.

Despite this significant breakthrough, Netflix is already feeling its competitors breathing in its back: WarnerMedia plans to launch HBO Max video streaming service on May 27, and NBCUniversal has set the launch of its own streaming platform Peacock on July 15. At the same time, content provider Disney + quite decently amassed 50 million subscribers worldwide in just five months of broadcasting.

Source: Variety

The Topic of Article: Netflix has broken record for subscribers growth.
Author: Jake Pinkman