Netflix doubles subscribers during corona pandemic in the first quarter of this year. It gets 16 million subscribers around the world in first three months of 2020.
Netflix is an American media services provider and production company in California. They provide TV-series, movies, and dramas online across the world. Netflix is using 21 different languages including; English, Spanish, Turkish, etc.
Although, the global economy is in major crisis but Netflix is rising. Netflix is enjoying its new viewership and having a record breaking audience. Netflix is becoming one of the most essential services in times of isolation and lock-down across the globe.
Since this corona virus bring damages around the world. On the other hand, it brings a positive change for Netflix. Moreover, stay at home orders in the world brings millions of new people on Netflix to counter their boredom. Thus, Netflix gets the record breaking subscriptions for the first time ever.
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It is considering as the biggest quarter gain since last 13 years of their services. “Our small contribution to these difficult times is to make home confinement a little more bearable”, says Reed Hastings Netflix CEO.
It is likely that if it goes with same speed, the Netflix video streaming may succeed to get overall U.S economy into it. Moreover, like every other business in the world has competitors, Netflix also has Disney Plus, but it flops badly. Netflix appears as an unbeatable organization in the world.
Since stock shares of companies are declining and Netflix comes up with new highs in the international market. Netflix earns $709 million in the first quarter, which is tripling its profit from last year.
Visit their official site: https://www.netflix.com/pk/
Corona Relief Fund
Netflix is also establishing a corona relief fund by the self-aid of $100 million. “This community has supported Netflix through the good times, and we want to help them through these hard times”, says; Ted Sarandos, Netflix’s Chief Creative Officer. The majority of the fund will support hard-hit crews on Netflix’s own productions around the world.
Electricians, carpenters, and drivers, who largely depend on hourly wages and work on a project-to-project basis, are among the hundreds of thousands in the entertainment industry without jobs, he claims. Netflix saves $15 million for the entertainment industry especially its workers around the globe. They understand everyone in the industry is home bound and they are not able to work.
Moreover, Netflix stops the production of new originals. There are fears that if corona virus stays long, it may lose its subscribers at the same speed.
As Netflix doubles subscribers during corona pandemic. Thus, it may be awarded with the status of global essential service in the pandemic virus.