Netflix adds 16 million new users during the pandemic

NETFLIX has added 16 million new users during the coronavirus crisis.

Since the start of the year, the streaming platform had its biggest three month gain in its 13-year history.

A Netflix letter said: “We’re acutely aware that we are fortunate to have a service that is even more meaningful to people confined at home, and which we can operate remotely with minimal disruption.”

During the same period, the company shares have risen by a staggering 31%.

The profits recorded also during this period are €653 million, more than double that in the same period last year.

EMarketer forecasting analyst Eric Haggstrom said: “Netflix is and will continue to be the media company least impacted by COVID-19. 

“Their business is a near perfect fit to a population that is suddenly housebound.”

According to estimations, 7.5 million new users are predicted for the next trimester.