Netflix adds almost 16 million subscribers in first quarter, crushing estimates

Netflix Inc. added nearly twice as many subscribers as predicted in the first quarter, cementing its role as the rare company to benefit from the global health crisis.

The world’s largest paid streaming service added 15.8 million paid subscribers in the first three months of the year, with shut-in viewers turning to “Tiger King” or “Love Is Blind” to help ride out the coronavirus quarantine. Analysts projected 8.47 million additions, while Netflix itself forecast 7 million.

Key Takeaways

While COVID-19 has been devastating to the global economy, video-streaming services like Netflix have benefited from the billions of people stuck at home. The new Disney+ service surpassed 50 million subscribers in just five months.Another plus: Netflix has finally cracked the code on reality TV. “Tiger King,” a documentary about big-cat zoo owners, was the biggest new hit series for Netflix in the U.S. since “Stranger Things.” Meanwhile, “Love Is Blind,” a

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COVID-19 – Korea Plans $33 Billion Fund, U.S. Senate Passes $484 Billion Package By

By Gina Lee – South Korea will create a KRW 40 trillion ($32.44 billion) fund to increase liquidity and give payment guarantees to companies.

Japan is mulling implementing crowd-thinning measures as soon as possible at supermarkets to prevent the spread of the virus.

Meanwhile, the United States Senate passed a $484 billion package overnight to help small business pay their employees. The House is expected to debate the package as early as Thursday. 

Asia Pacific

South Korea will create a KRW 40 trillion fund to provide liquidity and payment guarantees to companies, President Jae-In Moon said after emergency meetings on the economy earlier in the day.

An existing program will be expanded by KRW 35 trillion won and KRW 10 trillion will be used to help stabilize employment.

The fund is the government’s third extra budget to help industries suffering from the COVID-19 outbreak.


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SBA data breach: Disaster loan portal website leaks information of nearly 8,000 EIDL small business loan applicants

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