The rare company excelling during the coronavirus pandemic, Netflix reported net subscriber additions of 15.8 million between January and March
Although the subscriber adds far outpaced the company’s previous projections, Netflix warned in a letter to investors that the coronavirus spike could result in slower subsrciber growth in future quarters.
Netflix pointed to appreciation of the dollar relative to foreign currencies as limiting revenue, despite subscriber growth; more than 60% of Netflix’s audience lives outside of North America. The new additions were also largely outside of North America, with 7 million of the new subscribers coming from Europe, the Middle East and Africa.
Still, 15.8 million new memberships is staggering — last year, the number of global subscribers increased by less than 10 million during the same period.
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