New Delhi: The covid-19 pandemic and subsequent lockdowns may have spelt doom for the world but has brought good news for Netflix.
The American streaming service added 15.7 million paid members in the January-March quarter globally. This brings its overall global subscriber base to 182.86 million.
Netflix added 8.76 million subscribers in the last quarter, and 9.6 million in the same period a year ago. Revenue too has grown nearly 28% to $5.77 billion but operating margin of 16.6% was lower than the company’s 18% forecast as it incurred $218 million in incremental content costs due to paused productions and hardship fund commitments, Netflix said in a letter to shareholders.