(Reuters) – Netflix Inc (NFLX.O) more than doubled its own projections for new customers as quarantined audiences binged on series such as “Tiger King,” but the company predicted a weaker second half of the year if stay-at-home orders to fight the coronavirus are lifted.
The world’s largest streaming service gained 15.8 million paying customers from January through March, bringing its global total to 182.9 million. Netflix had predicted it would add 7 million during the period.
The company warned that it expected fewer new subscribers from July to December compared with a year earlier, however. Many people who would have joined then are likely to have already signed up, executives said.
“We expect viewing to decline and membership growth to decelerate as home confinement ends,” Netflix said in a letter to shareholders.
The company is among the few businesses to benefit from government orders imposed in March to keep people away from each other in order to stop the…
Source Reuters Tech News
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