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Netflix has seen subscriber numbers surge this 12 months, as lockdowns all over the world preserve individuals at house the place they need to be entertained.
The variety of subscribers jumped by virtually 16 million within the first three months of the 12 months.
That is nearly double the brand new sign-ups it noticed within the remaining months of 2019.
However, the streaming service, which is behind some multi-million greenback productions, stated shutdowns have halted “almost all” filming all over the world.
And sharp declines within the worth of many currencies has meant new subscribers past the US, the place it’s based mostly, usually are not price as a lot to the corporate as they might have been earlier than the disaster.
Investors have had excessive hopes for the fortunes of Netflix in the course of the lockdowns, sending the worth of its shares up by greater than 30% this 12 months.
Demand for streaming has been so excessive that Netflix final month stated it could cut back the standard of its movies to ease pressure on web service suppliers.
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2020-04-22 00:05:55Z
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