{"id":11842,"date":"2020-04-22T10:26:42","date_gmt":"2020-04-22T10:26:42","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=278198"},"modified":"2020-04-22T10:26:42","modified_gmt":"2020-04-22T10:26:42","slug":"netflix-warns-of-post-pandemic-drop-in-additions","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/04\/22\/netflix-warns-of-post-pandemic-drop-in-additions\/","title":{"rendered":"Netflix warns of post-pandemic drop in additions"},"content":{"rendered":"

<\/p>\n

\tNetflix added 15.8 million paying customers globally in Q1 as people stayed home in line with confinement measures aiming to stop the spread of Covid-19 (coronavirus), but the company expected subscription growth to halve in the current quarter.<\/p>\n

New global registrations grew 64 per cent year-on-year, taking its total paying user base to 182.9 million, up 22.9 per cent from its 148.8 million subscribers in Q1 2019.<\/p>\n

In a letter to shareholders, Netflix noted additions surpassed its predictions, but didn\u2019t result in higher-than-expected international revenue due to the appreciation of the US dollar compared with other currencies.<\/p>\n

Netflix also said Covid-19 lockdowns had affected production and warned of delays in content release.<\/p>\n

Revenue of $5.7 billion was up 27.6 per cent and net income rose to $709 million from $344 million in Q1 2019.<\/p>\n

Future outlook
\nNetflix expressed hope confinement measures imposed to combat the pandemic would be lifted soon, and predicted viewing and membership numbers would drop as a result.<\/p>\n

The company expected to add 7.5 million global paid subscriptions in the current quarter, but noted \u201cuncertainty on home confinement timing” meant “this is mostly guesswork\u201d.<\/p>\n

It also forecast net additions in Q3 and Q4 to be lower compared to the same periods in 2019.<\/p>\n

The streaming company maintained confidence it would hit a targeted 16 per cent operating margin in 2020, despite accumulating extra costs in Q1 due to moves around expanding its customer support team and the creation of a $100 million fund to aid the entertainment industry.<\/p>\n\n

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Netflix added 15.8 million paying customers globally in Q1 as people stayed home in line …<\/p>\n

The post Netflix warns of post-pandemic drop in additions<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":211,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Netflix warns of post-pandemic drop in additions - ITTeacherITFreelance.hk","description":"Netflix added 15.8 million paying customers globally in Q1 as people stayed home in line ... The post Netflix warns of post-pandemic drop in additions appeared"},"footnotes":""},"categories":[11,8],"tags":[2525],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/11842"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/211"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=11842"}],"version-history":[{"count":2,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/11842\/revisions"}],"predecessor-version":[{"id":11897,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/11842\/revisions\/11897"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=11842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=11842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=11842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}