The rare company excelling during the coronavirus pandemic, Netflix reported net subscriber additions of 15.8 million between January and March
Although the subscriber adds far outpaced the company’s previous projections, Netflix warned in a letter to investors that the coronavirus spike could result in slower subsrciber growth in future quarters.
Netflix pointed to appreciation of the dollar relative to foreign currencies as limiting revenue, despite subscriber growth; more than 60% of Netflix’s audience lives outside of North America. The new additions were also largely outside of North America, with 7 million of the new subscribers coming from Europe, the Middle East and Africa.
Still, 15.8 million new memberships is staggering — last year, the number of global subscribers increased by less than 10 million during the same period.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix Adds Nearly 16 Million Subscribers Amid Virus ShutdownThe streamer now has nearly 183 million global subscribers.
Read more »
Netflix Adds 16 Million New Subscribers as Homebound Consumers Stream AwayNetflix beat its forecast for subscriber growth in the first quarter as consumers in many countries stayed at home due to the coronavirus pandemic and hunted for ways to entertain themselves.
Read more »
Netflix Adds Nearly 16 Million Subscribers Amid Virus ShutdownNetflix added 15.8 million subscribers during the first quarter of the year, a period of record growth that has rocketed its global base to nearly 183 million
Read more »
Wall Street tumbles as oil crash adds to pandemic fearsWall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.
Read more »
Tokyo Olympics cost double official number, delay adds $2.7 billion - InsiderWhen Tokyo bid on the 2020 Olympics in 2013, it said it would cost $7.3 billion. It appears the cost for the 2020 games has gone way past that number.
Read more »
MK2 Adds Rosalie Varda as Advisor for 800-Title Film LibraryThe appointment comes after the French group signed a library deal with Netflix in France for 50 titles in its library, including classics like Francois Truffaut's 'The 400 Blows' and Charlie Chaplin’s 'Modern Times.'
Read more »