Netflix presented the first quarter 2020 financial results to its shareholders, who received the numbers from home with a smile. The company, one of the beneficiaries of the global pandemic, has announced that between January and March it managed to add 15.8 million subscribers, a year-on-year growth of 22% and more than double the 7.2 million it expected. Netflix currently has 182 million customers worldwide.
Last quarter Netflix posted revenue of $5.768 billion, up 27.5% from last year and in line with internal forecasts. On a profit basis, the company has posted $709 million, compared to $304 million reported for the same period last year. The downside of this growth is that as countries lift lockdown, it will cost more to grow and subscriber growth will slow.
Netflix has also reported that one of its most recent successes is Tiger King, a mini documentary series that during the first four weeks has been seen in more than 64 million homes. These numbers are similar to those of the third season of Stranger Things and lower than those recorded by The Witcher, the series with the best premiere on the platform thanks to the 76 million views it registered in a month. As for La Casa de Papel, its fourth season has achieved 65 million broadcasts since its premiere.