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Netflix has doubled the number of new subscribers it thought it would get this year. Netflix makes and streams movies and TV shows for subscribers to watch online. The company said 15.77 million new subscribers signed up in the past three months. It expected an increase of half this number. The increase in subscriptions is due to the coronavirus pandemic. Millions of people are staying at home watching films and shows. Netflix is now one of the world's most valuable companies. It is worth more than the oil company ExxonMobil. Its value is around $196 billion.
Netflix said the rise in membership was probably temporary. It would probably go down and return to normal after lockdowns end. It said: "We expect viewing to decline and membership growth to [slow down as lockdowns] end, which we hope is soon." It added: "The coronavirus has reached every corner of the world and...no one knows how or when this terrible crisis will end....We are fortunate to have a service that is even more meaningful to people confined at home." The company hopes to start producing more new shows in the future.
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