Corona virus lockdown in many countries has left people stranded in their homes, and the number of users of the video streaming service Netflix is growing rapidly.
People are using this video streaming service to have fun at home and that is why Netflix’s profits have doubled.
According to the BBC, about 16 million people subscribed to Netflix during the lockdown.
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According to the company, the number of users who subscribed to Netflix by the end of last year has almost doubled.
However, Netflix said that most of the production has been stopped due to the lockdown, but the revenue is increasing rapidly.
In a letter to investors, the Netflix management said, “We are seeing an increase in membership for our services.”
According to Netflix, the company is offering its services to people who are confined to their homes during lockdown days.
The company added that if the lockdown continued due to the corona virus, the service could add another 7.5 million subscribers by June this year.
However, he made it clear to investors that the number of users could drop sharply once the global lockdown is over.
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Keep in mind that the number of Netflix subscribers worldwide has reached about 182 million.
Netflix made a profit of 70 709 million in the first three months of this year, and the company as a whole made ڈالر 5.8 billion in the first three months.