Netflix Has Gained Over 10 Million New Subscribers During COVID-19 Lockdown

It’s been revealed that Netflix has gained over 10 million subscribers during this COVID-19 lockdown period which means they’ve really profited from this.

We’ve all been stuck inside for quite a while these last few months, and it seems as though a lot of us have been passing the time by watching stuff on Netflix.

This is probably one of the reasons why the streaming giants have seen such a huge incredible in subscribers over the past few months.

According to Variety, Netflix has gained over 10 million new subscribers worldwide during the lockdown period.

That’s a huge number, and it might also have something to do with the lack of competition.

Netflix’s only real competitors are Amazon and Hulu, and they haven’t really released too much new stuff in the past few months.

Netflix has gained over 10 million new subscribers during the lockdown

best netflix tv shows to watch whist in quarantine

There are so many good things to watch on Netflix – Credit: Pexels

Read more: Here Are The Best Games To Play On The Nintendo Switch While In Lockdown

Such a lack of competition has proven good for business for Netflix.

They’ve released shows such as Money Heist Season 4, Tiger King, Dark Season 3, Snowpeircer

Netflix has also released movies such as Extraction and The Old Guard which have proven to be very popular.

Getting 10 million new subscribers during the lockdown period is a record-breaking number, even for Netflix.

It translates, roughly to a revenue of about six billion dollars in total as well as a net income of $1.59 per share.

However, Netflix thinks this huge increase won’t carry on into the fourth quarter fo 202.

they expect to gain a mere 2.5 million additional subscribers towards the end of the year.

What do you make of this news?

Are you one of the people who’ve recently subscribed to Netflix during the lockdown?

Let us know your thoughts in the comments below.

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