People are using Netflix more because they are confined to their homes, which has already doubled its quarterly profits. The number of Netflix subscribers worldwide has reached about 182 million.
More than 1.5 million people have so far subscribed to Netflix’s online streaming service during the Corona virus.
In the first quarter of 2020, Netflix posted a profit of about 71 710 million on revenue of 5.8 billion.
The company’s management has said that Corona has increased subscriptions and increased revenue, but due to lockdowns imposed by governments around the world, we have stopped most of our productions.
People are turning to this video streaming service to have fun and spend time at home, which has increased Netflix’s profits.
According to the company, the number of users who subscribed to Netflix by the end of last year has almost doubled.
Netflix reports that most of the production has been halted due to the lockdown, but revenue is growing rapidly.
According to the management, we are seeing an increase in membership for our services. According to Netflix, the company is offering its services to people who are confined to their homes in the days of lockdown.
The company added that if the lockdown continues due to the Corona virus, the service could be added to 7.5 million subscribers by June this year, but there is a risk of a sharp decline in users after the lockdown ends.