Home News Netflix Sets Second-Quarter Record With 10.1 Million New Subscribers

Netflix Sets Second-Quarter Record With 10.1 Million New Subscribers

by Heuristic

Netflix announces its second quarter report for 2020. The stream giant reached 10.1 million new subscribers during the worldwide epidemic second quarter of 2020, breaking a second-quarter record in that sense.

Covid-19 reached 15.8 million new subscribers in the first quarter of 2020, when the outbreak was well underway, and Netflix released its 2020 second quarter report, which gave a positive result to its share of the tough conditions in the world. In the second quarter of the year, Netflix broke its second-quarter record by reaching 10.1 million new subscribers during the second quarter, even though it fell short of experts ‘ estimate of 12.5 million new subscribers. Netflix’s total number of subscribers worldwide reached 193 million by the end of the second quarter.

Netflix, whose second-quarter results came in below expectations, suffered a slight setback in its shares, and over the past two months, it has renewed its own record in stock prices many times. Netflix spent $3.3 billion on content in the second quarter of last year, while in the same period of 2020 that sum declined to $2.6 billion due to epidemic causes. By the end of the year, Netflix is expected to spend a total of $1 billion less on content than in 2019. Although Wall Street has forecast that the stream giant will reach 5 million new subscribers in the third quarter, Netflix’s own estimates suggest that number will be around 2.5 million.

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