Netflix Roars to Record 16 Million New Subscribers in Q1

Streaming giant nearly doubles analyst projections for subscriber growth

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Having millions of people stuck inside all day seems to have worked out for Netflix, at least, with the streaming giant easily setting a new quarterly record with 15.8 million new subscribers adding the service during Q1, the company reported on Tuesday afternoon.

Netflix’s big quarter eclipsed its previous record of 9.6 million new subscribers, set during the first quarter of 2019. Analysts had projected the company would add around 9 million new subs — with most projections inching higher in recent weeks, due to stay-at-home measures being taken to counteract the spread of COVID-19. Overall, the company now has nearly 183 million subscribers.

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