The coronavirus hit left the entire globe in lockdown and everyone is sheltering at their homes in this crisis. Watching the content on digital platforms like Amazon, Netflix turned out to be everyone’s pass time from the past couple of months after the coronavirus outbreak. OTT giant Netflix saw a record number of 15.8 million new subscribers in the period of January and March this year. Though the number was predicted to be 6-7 million, the added accounts are huge. This is said to be the biggest quarterly addition for Netflix after it emerged into a business.
Netflix said that they increased the membership growth considering the huge demand and higher viewing. USA and Canada contributed 2.3 million new subscribers for Netflix in the first quarter of 2020. The digital giant has 183 million subscribers across the globe and 60 million subscribers are from the USA. It is also predicted that countries like the USA could get a wave of canceled subscriptions after the home restriction comes to an end and when people head to work. This is because of the financial crisis as millions lost their jobs due to coronavirus pandemic. Investors did not rush to buy Netflix shares and the price remained almost the same at 433 USD.
