Netflix Adds 16 Million New Subscribers as Homebound Consumers Stream Away

Netflix added 15.8 million paid subscribers world-wide in the latest quarter, more than twice as much as it expected

Netflix Inc. 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.

The streaming giant said Tuesday it added 15.8 million new paid subscribers around the world in the quarter, more than double the 7 million new subscribers it had predicted for the period. In the first quarter a year ago, Netflix added 9.6 million new subscribers globally.

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