Netflix Adds 16 Million New Subscribers as Homebound Consumers Stream Away

Netflix beat its forecast for subscriber growth in the first quarter as consumers in many countries stayed at home due to the coronavirus pandemic and hunted for ways to entertain themselves.

Netflix Inc. ended the first quarter with nearly 16 million new subscribers as people around the globe stuck at home due to the coronavirus pandemic are increasingly turning to streaming services to entertain themselves.

The 15.8 million net customer additions were more than double what the streaming giant had forecast—a breakneck pace of growth the company said was unlikely to continue. Netflix now has 182.9 million subscribers world-wide.

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