Netflix has announced its biggest ever quarter, gaining 16 million new subscribers in 2020, so far. The streaming giant had predicted only 7 million new subscribers back in January, but with an unprecedented COVID-19 lockdown hitting countries across the world, many are turning to the best TV streaming services to pass the time.
Netflix's new show Tiger King has also had great success since its release on March 20. 64 million households have tuned in to watch the true crime documentary series so far, and that number keeps growing.
In a quarterly shareholder letter, Netflix said “membership growth has temporarily accelerated due to home confinement. We expect viewing to decline and membership growth to decelerate as home confinement ends, which we hope is soon.”
Easy tiger: Is Netflix the Streaming King?
Netflix’s stock has risen 30% this year as coronavirus boosts streaming numbers. It's currently worth $190 billion, meaning the streaming company is maintaining its lead over Disney. Netflix isn't the only streaming site experiencing a massive growth in subscribers. Disney Plus recently revealed it hit 50 million subscribers in its first five months on the market. Although Netflix and Disney Plus are pitted against each other, it may not be the case that the growth of one site is at the expense of the other. Many are turning to Disney Plus for its child-friendly content as kids remain home from school during lockdown, but Netflix originals such as The Witcher and Tiger King are continuing to draw in new viewers across age groups.
Speaking to the New York Post, eMarketer analyst Eric Haggstrom said “after record subscriber additions, Netflix is and will continue to be the media company least impacted by COVID-19. Their business is a near perfect fit to a population that is suddenly housebound. Virus related lockdowns have reaccelerated Netflix’s subscriber growth around the world.”