We all knew that Netflix is one of the only entertainment companies that is actually thriving during the COVID-19 pandemic. However, we had no idea it was doing this well.
With its recent investors call (via THR), Netflix shared its earnings report and the first batch of statistics for growth during the pandemic. And unsurprisingly, the numbers speak for themselves, with huge growth and viewership totals. But even still, the total number of new subscribers to the platform is surprising even for the company.
Netflix says that the streaming service has added 15.8 million new users during the first quarter of 2020. Sure, that includes time before the COVID-19 pandemic began to really spread worldwide, but it’s clear that most of the growth is because of lockdown situations that have forced users to stay indoors.
In a letter to investors, CEO Reed Hastings said, “In our 20+ year history, we have never seen a future more uncertain or unsettling.”
READ MORE: Thanks To The Global Pandemic, Netflix Is Now Worth More Than Disney
He added that Netflix is clearly seeing “temporarily higher viewing and increased membership growth” due to the pandemic, and Hastings believes that the viewing and growth will “decelerate as home confinement ends, which we hope is soon.”
So, with its growth, it appears that Netflix can now tout a whopping 183 million subscribers worldwide. When you see a number like that, it really does put the Disney+ announcement of 50 million subscribers in perspective. Sure, the Mouse House is doing incredibly well, in a short amount of time, but Netflix is still far and away the #1 streamer on the planet. That being said, Hastings is impressed by his new competition.
READ MORE: Disney+ Passes 50 Million Paid Subscribers Only 5 Months After Its Launch
“I’ve been so impressed with the Disney+ execution,” said Hastings. “I’ve never seen such a good execution of the incumbent learning the new way and mastering it.”
Netflix is probably anxiously awaiting the full debuts of the next big competition for the company, the launches of both NBCUniversal’s Peacock and WarnerMedia’s HBO Max, launching in July and May, respectively. Both of those services, like Disney+, have the backing of major entertainment conglomerates, so they could also prove to be big competition for Netflix in the months to come.
But that’s too far in the future to worry about, in regards to this story. Because over at Netflix, they’re popping champagne bottles—tastefully, at least six feet apart and following all social distancing guidelines, of course.
