Netflix Added 15.8 Million Subscribers & Exceeded Revenue Expectations in Q1





Netflix Logo

Netflix LogoToday, Netflix is sharing its Quarter 1 financial report. According to the report, Netflix has added 15.8 million worldwide subscribers, after projecting an increase of 7 million for the quarter. The number got an added boost from the number of households spending more time at home due to coronavirus. Netflix is ending the period with nearly 183 million subscribers, a 22.8% increase from last year.

“By helping people connect with stories they love, we are able to provide comfort and escape as well as a sense of community during this pandemic. So our focus has been on maintaining the quality of our service while our employees around the world adapt to working from home,” Netflix shared in the report.

Netflix also reported quarterly revenue of $5.77 billion, after estimating $5.76 billion in revenue.

While the numbers are strong, Netflix notes in the letter to shareholders that it will be important to continue keeping the pandemic in mind if those numbers are negatively affected by stay at home orders lifting. “We expect viewing to decline and membership growth to decelerate as home confinement ends, which we hope is soon,” the letter says.

Analysts predicted the uptick in subscribers and revenue, citing coronavirus as a major factor. “We raised our Netflix global subscriber forecasts materially on likely higher gross subscribers and lower subscriber churn boosted by global consumer ‘stay at home’ orders around COVID-19,” Pivotal Research Group analyst Jeff Wlodarczak wrote in a recent report.

We’ll share more updates when Netflix begins their Quarter 1 Earnings Call later today.

Did you know we now have a FREE app for iOS, Android, and Amazon Fire? Click HERE to download our app.

Please follow us on Facebook and Twitter for more news, tips, and reviews. Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help.

Disclaimer: To address the growing use of ad blockers we now use affiliate links to sites like, streaming services, and others. Affiliate links help sites like Cord Cutters News, stay open. Affiliate links cost you nothing but help me support my family. We do not allow paid reviews on this site. As an Amazon Associate I earn from qualifying purchases.

Subscribe to Our Newsletter

* indicates required

Please select all the ways you would like to hear from :

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp’s privacy practices here.