Media Streaming Service See Record Subscriptions

Posted on 22 April, 2020 by Editor in Chief

Netflix, the media entertainment streaming service has seen a record increase in new subscriptions as the UK national lockdown and social distancing measures continue.   

The streaming platform reported during the first quarter it added 15.8 million new customers taking the total number of subscriptions to 182.9 million at the end of March.  

The increase in customers is Netflix’s biggest three-month gain since the company introduced streaming services back in 2007 and cementing its status as one of the most in-demand consumer services during the coronavirus pandemic.  

Source: NETFLIX

The demand increase was aided by series such as reality show “Love is Blind” as well as the true-crime documentary “Tiger King” and the thriller “Money Heist.”  

The company has seen profits climb to $709 million as revenues increased by 28% compared to the same period last year to $5.77 billion.  

Netflix expects the subscriptions to continue for the April – June period, with 7.5 million more subscribers. However, the company admitted this increase was an educated guess due to the uncertainty about when national lockdowns might be lifted.  

“Like other home entertainment services, we’re seeing temporarily higher viewing and increased [subscription] growth,” the organisation said of the Covid-19 pandemic.  

The coronavirus crisis has meant that Netflix has suspended production of new series.   

The pandemic has affected the company’s income from outside the US due to the rise of the dollar as investors switch to – a safe haven – versus other currencies.   

The company believes that the pace of growth after the lockdown is lifted will not continue, conceding, “we expect viewing to decline and membership growth to decelerate as home confinement ends.”  

Coronavirus has battered US stocks for the last couple of months, however, Netflix has seen an 11% gain over the period since February whilst the S&P 500 Index has fallen by 19%.   

After-hours trading shows that Netflix shares rose by 1%.  

Netflix is facing an increasingly competitive market in the United States with Disney launching its streaming service, Disney +.   




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants