New Netflix subscribers surge during pandemic
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The number of new Netflix subscribers doubled in the past three months. Netflix makes and streams movies and TV shows. It said 15.77 million new subscribers signed up this year. This is because of the coronavirus pandemic. Millions of people are staying at home watching films and shows. Netflix is now one of the world's most valuable companies. It is worth more than the oil company ExxonMobil. Its value is around $196 billion.
Netflix said the rise in membership was probably temporary and would go down after lockdowns end. It said: "We expect viewing to decline and membership growth to [slow down]." It added: "The coronavirus has reached every corner of the world and...no one knows how or when this terrible crisis will end....We are fortunate to have a service that is even more meaningful to people confined at home." Netflix will produce more new shows in the future.
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