Netflix sees over 22% YoY growth, adds 15.8 million subscribers in Q1

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April 22, 2020, 9:06 AM UTC

As per a MoffettNathanson report, Netflix accounted for 72% of streaming time in homes.

In a letter to its shareholders, Netflix announced having added 15.8 million new subscribers, translating to a growth of over 22% YoY in Q1 of 2020. The streaming platform now has 182 million subscribers worldwide, and has seen a quarterly revenue of $5.77 billion.

However, Netflix expects a viewing and membership decline once the home confinements end. It has warned its shareholders of slower growth “country-by-country” after the lockdown is lifted. While the production stoppage will affect Netflix, analysts state that the company is better prepared.

To address content production issues, Netflix assured that large pipelines of its projects were either completed or ready for launch or in post-production. The streaming platform expects to provide a variety of new titles throughout 2020 and 2021.

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