Netflix has more than doubled number of new subscribers it thought it would get this year. Netflix makes movies and TV shows, and provides service for subscribers to watch these online. streaming giant said 15.77 million new subscribers signed up for its services in past three months. It expected increase of around half this number. The doubling of subscriptions is due to coronavirus pandemic. Millions of people are staying at home and are using their free time by watching films and TV programmes. Netflix is now one of world's most valuable companies. It is worth more than oil giant ExxonMobil. Financial analysts say its value is around $196 billion.
Netflix official said surge in membership numbers was probably temporary. rate of new memberships would probably go down and return to normal after lockdowns end. The company said: "We expect viewing to decline and membership growth to [slow down] as home confinement ends, which we hope is soon." It added: "The coronavirus has reached every corner of world and, in absence of widespread treatment or vaccine, no one knows how or when this terrible crisis will end. We are aware that we are fortunate to have service that is even more meaningful to people confined at home." company hopes to start producing more new shows in near future