Netflix now at 183 million subscribers, doubles Q1 subscription expectations

[Ana]

The nation’s favorite stay-at-home stock added 15.8 million subscribers in the first quarter, blowing through estimates as more viewers than even the most bullish imagined logged on to top off total subs at 183 million globally. In its latest financial report, which kicks of earnings season, it ancipated adding 7.5 million more net new subscribers in the current second quarter to hit 190 million.

Netflix shares have gained about 30% for the year to date, contrasting sharply with the broader market and with other showbiz stocks that have varied assets devastated by the pandemic, from theme parks to sports to advertising. Netflix, in comparison, is a pure-play subscription service with vast stores of global programming. Last week, it set a high when it surpassed both Walt Disney and Comcast in market cap.

Netflix More Than Doubles Estimates, Adds 16M Net New Subs In Q1 Marked By Pandemic Viewing Burst

The nation's favorite stay-at-home stock added 16 million subscribers in the first quarter, blowing through estimates.

deadline.com

 

[frohnman]

Well this is good for the films

 

[Paladin]

I bet that the subscriptions doubled the expectations. When people are stuck inside, they may choose to watch Netflix.