The region saw the second-highest jump in new paid subscribers in the past quarter with more than 3.6 million new membership additions, after only Europe, the Middle East and Africa with 7 million. An impressive 64 million people chose to view "Tiger King".
Experts believe that such big profits and streams reflected in Netflix quarterly statement is due to the fact that majority of people are in their home amid coronavirus lockdown and they have binged watch several popular series on Netflix.
That's one of the big reasons Disney's service has amassed 50 million subscribers and why Netflix is basking in another resurgence in popularity. It expects lower net subscriber additions in the third quarter as more economies open and because its third quarter previous year included new seasons of popular series "Stranger Things" and "Money Heist". Netflix predicted it will add 7.5 million subscribers from April through June.
While the subscription spike was widely expected, Netflix executives said it is very hard to predict how the pandemic will impact the business in the long run without more clarity around coronavirus.
Netflix Inc.is selling new junk bonds, even as the company sits on a record high cash balance and turned its first quarter of positive cash flow in six years. The company also noted that the documentary Tiger King: Murder, Mayhem and Madness has been watched by 64 million households - the same number of views Season 3 of Stranger Things attracted during the first four weeks of its airing previous year.
Fortunately, for the current quarter, Netflix is on track to release all its planned shows and movies on schedule. That brings Netflix's total paid subscriber count to 182.86 million. "We are both going to do great work". That was just a guess, Hastings said, adding that the only thing he feels certain about these days is that video streaming win more converts for at least the next five years.
First, our membership growth has temporarily accelerated due to home confinement.
Person County Health Department reports two more stricken with COVID-19
The site will be used as a landing spot for helicopters transporting COVID-19 patients to Presbyterian Hospital. As Monday morning, Siskiyou County officials say that there remain five confirmed COVID-19 cases in the county.
Netflix said it hopes to get voice actors set up in their homes to record future dubs. "My hat's off to them". "The coronavirus has reached every corner of the world and, in the absence of a widespread treatment or vaccine, no one knows how or when this bad crisis will end", the company said in a statement.
"When it comes to production, nearly all filming has now been stopped globally, with the exception of a few countries like Korea and Iceland", the company said.
For the last quarter, Netflix's earnings per share fell short of analyst expectations.
Netflix also warned that a higher dollar due to the coronavirus pandemic will create a drag on its worldwide revenue growth.
"We have paused most of our productions across the world in response to government lockdowns and guidance from local public health officials", the company said in the earnings release.
The spike in subscribers is a likely short-term bump due to the coronavirus crisis, Netflix said, and is likely to level out upon a return to some sense of normalcy.