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Netflix Adds Massive Number of Subscribers

10.1M joined in second quarter
By Evann Gastaldo,  Newser Staff
Posted Jul 17, 2020 12:01 AM CDT
Updated Jul 17, 2020 1:44 AM CDT

(Newser) – People stuck at home amid the coronavirus pandemic are still turning to Netflix: The streaming service added 10.1 million subscribers in the second quarter, the Wall Street Journal reports. Per the AP, that's more than triple the number it typically adds in the April-June period, and is more than the 8.3 million that had been projected by analysts. Overall this year, almost 26 million new subscribers have been added, more than double the number added during the same period last year. But the company said now that the "initial shock of Covid and social restrictions" is ebbing, subscriber growth is slowing down. Also Thursday, Netflix promoted its chief content officer, Ted Sarandos, to co-CEO, putting him in a position to someday replace founding CEO Reed Hastings. (Read more Netflix stories.)

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