People all over the world are consuming all kinds of video content at an unprecedented level. With this in mind, we can’t ignore the growth levels of Netflix. It’s probably going to get a little more challenging as new entrants enter the market. However, even then, none have the original lineup that Netflix does right now.
Netflix Boasts Increased Subscribers and Revenue
More people are being ‘forced’ to stay home to help curb the spread of the novel coronavirus. Thus a series of popular, original shows and movies have helped Netflix boost subscribers in its first quarter.
Netflix added 15.8 million subscribers, more than double the 7.2 million that was expected this year. Netflix now has 182 million subscribers worldwide. The company also saw quarterly revenue of KES 577 billion already, versus the KES 576 billion initially estimated.
But there’s a downside…
Unfortunately, some of the lockdown growth could turn out to be pull-forward from the multi-year organic growth trend. This will result in slower growth after the lockdown is lifted country-by-country. This means that viewing is likely to decline and membership growth to decelerate as home confinement ends.
The Big Question: Does Netflix Have Enough Content?
Currently, Netflix is more than hopeful that it will be able to continue releasing shows.
“While our productions are largely paused around the world, we benefit from a large pipeline of content. This content is either complete and ready for launch or in post-production. So, while we’re certainly impacted by the global production pause, we expect to continue to be able to provide a terrific variety of new titles throughout 2020 and 2021.”
One of the biggest advantages Netflix has over its competitor’s ties directly into its release strategy. The streaming platform has to have full seasons ready to go. That means TV shows it has in the pipeline for May, June, and July are fully complete seasons.
So Netflix doesn’t have to worry about filming more episodes as other networks do.
Chief content officer Ted Sarandos previously acknowledged that Netflix has enough original content in the pipeline to survive the next few months. Unfortunately, the pandemic will still affect the streaming service.
They note that it’s going to be a long, tough road ahead. Analysts see Netflix as being more prepared to weather the storm than other competitors.
The longer the company has a captive audience because of the coronavirus pandemic, the better the advantage. As long as they can continue serving new content, that is.