Netflix’s projections have more than doubled between the
months of January and March since the pandemic broke out. The company is
expecting 7 million more customers within this year.
The increase in membership is due to the fact that people in
lockdown need a source of entertainment. Apart from this, the streaming service
also released many shows that were very well-received by audiences including
true story “Tiger King” and the Spanish sensation “Money Heist.”
However, these numbers are likely to decline in the second half of the year. “We expect viewing to decline and membership growth to decelerate as home confinement ends,” wrote Netflix. There is also no guarantee that the economic recession that has hit major companies worldwide and been accelerated by the pandemic will spare Netflix.
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