Here is how the lockdown helped Netflix. Netflix made a cool profit of 709 million $ in 2019-20 which is more than double from last year.
The past 2 months have been great for Netflix both in India and globally as per the data released by the firm in their earnings call.
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As per data released by market research firm, Kalagato, user engagement increased from 50 mins in February to 80 mins by March end. An increase of almost 60% in the past 2 months.
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They have added 15.6 million new subscribers in the last quarter (Jan - Mar 2020) globally more than double the forecasted number (7.5 million).
To give a context, Netflix added 8.8 million new subscribers in the last Oct-Dec quarter of 2019.
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India has also seen good growth in terms of new subscribers. There was a lot of traction for Indian originals like She and Guilty. Money Heist was the best performing foreign show in India.
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In view of the latest growth figures, Netflix stock hit an all time high of 434 $ sending it's market capitalization to 190 billion $.
Its market cap surpassed Comcast, the second largest cable TV company in the US. It also inched close to AT&T (at 213 billion $ mcap)
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Despite the great growth figures, Netflix faces a major challenge. Adding new content is almost impossible due to the lockdown with many movies and series waiting for completion.
It would be interesting to see how the company performs post the lockdown is open.
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