The Corona Pandemic and Serial hits like “Tiger King” have the online video service Netflix helped to its strongest quarter so far. In the three months to the end of March, the number of Pay subscriptions by 15.8 million worldwide, as the streaming market leader announced on Tuesday after the US stock market closed in Los Gatos. With that booked Netflix the quarter with its biggest customer traffic to date and far exceeded both its own forecast and the expectations of Wall Street analysts.
It brought it to the end of the quarter Netflix to almost 183 million paid memberships. The growth had increased rapidly in March when people in more and more countries were instructed to stay at home because of the corona virus, the letter to the shareholders said. It was also financially smooth: Revenue rose by around 28 percent year-on-year to $ 5.8 billion. The profit more than doubled to $ 709 million.
Boom “only temporarily”
While many companies are suffering badly from the Corona crisis, it benefits Netflix that many people because of the virus hardly going out anymore. However, the company warned its investors that the boom was only temporary – with the end of the pandemic, growth should slow down again. Expected in the second half of the year Netflix with year-on-year subscriptions falling. The video service expects 7.5 million new customers in the current quarter.
“Tiger King” reaches 64 million households
With the series “Tiger King” that started in March Netflix a big viral hit. The bizarre documentary about eccentric lovers of big cats like tigers and lions was viewed in the first four weeks after the launch from 64 million user accounts. Other productions such as the film “Spenser Confidential” or the new seasons of the crime drama “Ozark” and the Spanish series “Money Heist“Went well according to Netflfix.
Disney overhauled on the stock exchange
The group, founded in 1997 in Los Gatos, California, is on one of the greatest waves of success in its corporate history. The stock of Netflix – in the event of a general price drop – this year has already increased by over 36 percent and recently hit new record highs. With a market value of just under $ 190 billion, even the US entertainment giant became Walt Disney overhauled, which was worth twice as much in winter Netflix.
Experts believe that the flight of heights will continue somewhat. The “stay-at-home” era caused by the virus outbreak should ensure that Netflix further extends its lead in the streaming market, says analyst Brian Russo of the Credit Suisse. The competition is not yet global enough to benefit from the trend to the same extent.
Disney + on the rise too
The great rival Disney + Although it is also booming strongly – the week before last he announced that he had 50 million paying subscribers just five months after the launch. Disney attracts, however – in addition to popular productions such as the “Star Wars” series “The Mandalorian” – also with low promotional prices.
The distance too Netflix should remain large for the time being. Because while the market leader has been in business for over ten years and in over 190 countries worldwide, the international expansion of Disney + just started. Different to Disney operates Netflix So far, there have been no other business areas such as theme parks or cruises that are suffering badly from the Corona crisis.
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