Netflix adds 15 million subs; original content release slate un-paused
Netflix has added 15.8 million subscribers in 2020. Most of these subscribers have joined the platform following mid-March when most people were forced to stay at home following efforts to curb the spread of Covid-19 virus.
The subscriber growth has exceeded Netflix’s target of 7.2 million subscribers and brought their global subscriber count to 182 million. In their shareholder statement, the company stated that they are witnessing temporary higher viewership and membership growth like other home entertainment services.
According to a report from Media Partners Asia, Netflix saw 115% growth in video consumption in Southeast Asia compared to the average growth of 60% across all streaming platforms (January 20 – April 11).
The OTT streaming platform is also confident that it can continue to release titles throughout 2020-21. CEO, Reed Hastings said, “While our productions are largely paused around the world, we benefit from a large pipeline of content that was either complete, ready for launch or in post-production when filming stopped. So, while we are clearly impacted by the global production pause, we expect to continue to be able to provide terrific variety of new titles throughout 2020 and 2021.”