Netflix posts explosive growth during global coronavirus pandemic, but warns boom may not last

  • Streaming giant Netflix added a record 15.8 million paid subscribers in March, with billions of people stuck at home during an unprecedented health crisis
  • However, it expects the surge to come at the expense of growth in the months ahead

With billions of people stuck at home, Netflix, the world’s largest paid online TV network, experienced an explosive jump in customers in March. Photo: Bloomberg
Netflix posted the strongest financial results in company history Tuesday, adding a record 15.8 million paid subscribers – almost double the figure forecast by Wall Street analysts. Yet rather than gloat, the company’s executives warned investors not to get too excited.
Netflix benefited in the first quarter from an unprecedented health crisis, the global coronavirus pandemic. With billions of people stuck at home, the world’s largest paid online TV network experienced an explosive jump in customers in March, with many binge-watching Tiger King and Love Is Blind to ride out the quarantine.
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