Netflix adds nearly 16 million new customers
The streaming platform reportedly added 15.77 million paid subscribers globally, nearly doubling analysts’ estimates for the first quarter.
The uptick in subscribers comes amid the ongoing COVID-19 pandemic, when many are stuck at home, watching movies and TV.
Streaming platforms are one of a select few industries benefiting from the stay-at-home orders in place around the world. But Netflix warned that it could see a dip in new customers for the latter part of the year, as many people will have already signed up.
We expect viewing to decline and membership growth to decelerate as home confinement ends, Netflix, via shareholder letter.