Netflix achieved extraordinary growth in the number of new subscribers in the first half of this year due to the changing situation resulting from the Coronavirus pandemic. However, the company may still groan later from the effects of the pandemic.
In the first half of this year, a total of 26 million new paying customers became the world’s largest online video streaming platform, Netflix, thanks to a life-changing situation mainly caused by the Coronavirus pandemic, which has locked hundreds of millions of people into their homes. . The pace of expansion is well illustrated by the fact that the service provider was able to acquire a total of 28 million new paying customers last year. However, investors were somewhat disappointed by the company’s warning of a slowdown in the next quarter, as they expected growth of 2.5 million in the July to end-September period, which is significantly less than analysts’ consensus on 5.3 million new subscribers.
Netflix’s rise in the first half of the year was helped by the fact that the service provider pumped out far more original content than all of its competitors. The company only managed to show 59 new self-produced series, movies, or documentaries for “Fire Show” this month, while Disney + and Apple TV +, Netflix’s big competitor last year, only showed two of these content. .
However, the pandemic may have a negative impact on Netflix’s operations due to the discontinuation of self-produced content, although it is not expected to be felt until next year. According to the company, the premiere of special new content will usually be postponed to the second half of the year, but the company is expected to be able to adhere to the annual schedule, that is, the premiere of a large amount of original content will not be postponed until 2022.
“Professional gamer. Communicator. Travel nerd. Tv guru. Certified problem solver. Hardcore alcohol trailblazer.”