Netflix Sees Unprecedented Growth Amid Pandemic

While no one in their right mind would wish for a global health emergency/economic crisis, it’s hard to make a list of companies that might profit from the current situation and not have Netflix on that list. A global crisis that forces people to stay home for weeks? Movie theatres, bars, restaurants, and gyms shuttered? No live sports on TV? What else are people supposed to do but cuddle up and watch Tiger King?

Netflix’s latest quarterly results seem to confirm that notion, as the streaming giant added more paid subscribers over the past six months than ever before in its history. Nearly 16 million people signed up for the service in the first quarter alone, with another 10 million subscribers added by the end of June. That brings Netflix's global paid memberships to 193 million, up 26 million since the beginning of 2020. To add some perspective, Netflix added just 12 million subscribers in the first half of 2019 and less than 28 million in the entire year.

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