Netflix adds record 10 mln new customers in Q2, misses profit guidance

Friday 17 July 2020 | 09:17 CET | News
The company added 10.1 million new subscribers in the second quarter, a sharp rise from the year before's 2.7 million, boosted by people staying at home due to lockdown measures amid the coronavirus pandemic. The increase brings the number of additions for the first half to 26 million from 12 million year-on-year, a leap the company says will likely start slowing down in the second half of the year as people get through the initial shock of covid-19 and accompanying social restrictions. Net adds for the third quarter are seen at 2.5 million, against 6.8 million the year before, as the earlier

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Broadcast & Satellite / Internet
Companies: Netflix
Countries: World
::: add a comment
This article is part of dossier


Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Netflix Q3: slower growth due to coronavirus crisis or competition?

Published 22 Oct 2020 12:00 CET | World
Netflix added fewer subscribers than expected in the third quarter. The explanation was the very high growth already in the first ...

Netflix subscriber growth slows to 2.2 mln in Q3, still sees record FY net adds

Published 21 Oct 2020 08:43 CET | World
Netflix reported a sharp slowdown in customer growth in the third quarter, to 2.2 million new subscribers compared to 10.1 ...

Disney shareholders push for more investment in Disney+

Published 15 Oct 2020 13:55 CET | World
Disney, one of the world's biggest media companies, is having a hard time lately, with much of its business suffering from the ...

Disney reorganises entertainment business to focus more on streaming

Published 13 Oct 2020 09:48 CET | World
Disney is reorganising its media and entertainment business, with attention going more to its streaming services, such as ...

Netflix raises prices on some plans in Canada

Published 12 Oct 2020 16:12 CET | Canada
Netflix is increasing prices on some of its plans in Canada so that it can continue to invest in more shows and films, according ...

Netflix loses content VP Holland, promotes Bajaria to head of global TV

Published 09 Sep 2020 10:23 CET | World
Netflix vice president of original content Cindy Holland is leaving the company after 18 years. The company has promoted Bela ...

Netflix offers free access to certain original shows, films

Published 01 Sep 2020 11:23 CET | World
Netflix has started offering free access to some of its popular programmes. Certain Netflix Original Movies and TV episodes are ...

Only streaming revenues up at Disney in Q2, Disney+ reaches over 60 mln subscribers

Published 05 Aug 2020 09:52 CET | United States
Disney's direct-to-consumer and international division was the only area of growth at the company in the past quarter, as the ...

Netlfix announces new Belgian series 'Soil'

Published 08 Jul 2020 14:36 CET | Belgium
Netflix has announced a new Belgian series, called "Soil," based on an idea from Zouzou Ben Chikha, Dries Heyneman and Wannes ...

Netflix commissions untitled Swedish original serial about future of monarchy

Published 08 Jul 2020 13:00 CET | World
Netflix has commissioned a Swedish original production about a boarding school pupil caught between duty and love. It is directed ...

Dutch court finds Netflix live chat is sufficient for customer contact

Published 03 Jul 2020 09:20 CET | Netherlands
An online chat service is sufficient for customer service, without the need to offer an email address, a court in Rotterdam has ...

Netflix to allocate 2% of cash holdings to organisations supporting Black communities

Published 01 Jul 2020 14:07 CET | United States
Netflix said it will allocate 2 percent of its cash holdings to financial institutions and organisations that directly support ...

Netflix announces new Dutch original series

Published 01 Jul 2020 13:14 CET | Netherlands
Netflix has announced a new Dutch original series called Dirty Lines. The series is inspired by the book '06-Cowboys' by Fred ...

Netflix names new marketing director

Published 01 Jul 2020 11:29 CET | World
Netflix announced the appointment of Bozoma Saint John as its new chief marketing officer. She is a former senior executive at ...

Netflix signs partnership with Nigerian producer Mo Abudu

Published 12 Jun 2020 14:14 CET | Nigeria
Netflix and Nigerian producer Mo Abudu have formed a partnership to expand the streaming company's investment in Nigerian output. ...

Netflix to launch Saudi original thriller 'Whispers' in 190 countries on 11 June

Published 01 Jun 2020 10:39 CET | Saudi Arabia
Netflix will start showing its first Saudi original production, the eight-episode drama "Whispers", on 11 June. It will be ...