The global health emergency has forced a major population of the world to stay in homes for weeks – perhaps months! And with no movie theatres, bars, and restaurants to visit – many of us are taking solace in the one and only Netflix.
The video-streaming service, Netflix is seeing unprecedented growth over the past few months and its latest quarterly report confirms the notion. According to the Q1 2020 results, Netflix added nearly 16 million paid subscribers to its services, reaching a whopping 182.9 million users.
The company expects to reach 190 million paid subscribers globally by the end of June.
However, the streaming service was sensible enough not to gloat about its recent achievements and considered the sensitive situation that we are all part of. In a pensive note to its shareholder, the company acknowledged the recent scenario and said that they were fortunate to have a service that is meaningful to the people confined at home.
The company also wrote their desire to continue their service with minimal disruption during these testing times.
The recent coronavirus pandemic has created an uncertain situation on a global level. To contain the spread of the virus, almost all countries across the world have ordered their citizens to stay home and limited the opening of businesses to essential groceries and medicines only. As a result, the ‘homebound’ population is using technology for their education, work, communication – and of course, entertainment.
Infographic by: www.statista.com