How Netflix is Adding more Subscribers
Netflix is emerging as the biggest winner of the entertainment industry during the lockdown period. It is a company based in California. The number of subscribers is at an all-time high for Netflix. With people having plenty of time during the lockdown period, they are giving more time in the entertainment industry. With cinemas and PVR closed all around the world, Netflix has shown a great incline in its growth. In this article, we discuss how Netflix is adding more subscribers.
New Subscribers
The number of new subscribers is the triple of what the company has projected at the start of the year. With 16 million subscribers all around the world, it has emerged as the most prominent online streaming company. According to the company, almost 15.8 million new subscribers have joined Netflix, which is nearly double the target made by the company.
With the economic recession all around the world amid the corona outbreak, the investors found it an excellent opportunity to invest in a company like Netflix. Netflix shares are at an all-time high on the New York stock exchange and NASDAQ. However, with the increase in the value of the company by almost 30%, Netflix is going through its golden phase.
However, the company is expecting the growth to decline very soon. According to the company, the viewership will decrease as quickly as people around the world would get back to their routine after the lockdown. However, the company has shown a turnover of $709M, which is very high from the previous year’s $344M.
Focusing on production of its original movies and web series
With Netflix focusing more on the production of its original movies and web series, people around the world are getting more and more attracted to the company. A surge in the growth has been seen from January and February this year. But the record high growth was projected from March onwards. Almost 7 Million new subscribers are from Europe itself. With the introduction of Netflix originals like Money Heists and movies like Extraction, which were exclusive to Netflix only, the curiosity of people around the world has increased more toward the company.
In Asia there are almost 3.4m new subscribers and India is emerging as the biggest market for Netflix. Most of the payment during this period is made in other currencies, which are weaker than the dollar. It is also one of the biggest reasons for the tremendous growth of the company in the share market. More and more foreign funds are being added.
Quality Content
With the introduction of new streaming platforms like Amazon Prime and Disney, the competition is an all-time high for Netflix. The company is putting more emphasis on in-house production, which will be exclusive to Netflix only. Netflix is trying to produce quality content that will attract more viewers.
According to the company, the growth will be back on the regular track by the end of June this year. Netflix is trying to leverage this time by creating movies and web series that are more engaging and interesting for people across the globe.
