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Netflix is worth more than Disney, and it's all thanks to coronavirus

Netflix gained 15.77 million new subscribers worldwide in Q1 2020, all thanks to COVID-19 coronavirus

Anthony Garreffa | Apr 22, 2020 at 12:36 am CDT (1 min, 35 secs time to read)

Admit it: you either use, or know someone who has been binging TV shows and movies on Netflix while on stay-at-home lockdowns and quarantines over COVID-19 coronavirus.

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Netflix has now announced its Q1 2020 results, where the streaming giant revealed it experienced its biggest quarter ever. The company reeled in another 15.77 million subscribers in the last 3 months, blowing away analyst expectations of 8.22 million -- nearly double that amount.

This time last year Netflix added 9.6 million global subscriptions all the way back in Q1 2019 when no one uttered the words "quarantine", "lockdown", "novel", "COVID-19" or "coronavirus". Netflix reported that it earned $709 million in Q1 2020, versus shared earnings of $344 million in Q1 2019.

Netflix is now home to a huge 182.8 million subscribers, which make it one of the world's largest entertainment services. The US and Canada now make up just under 70 million subscribers, with 2.3 million of the 15.7 million new subscribers based in the US and Canada -- meaning 13.5 million subscribers were added internationally.

Netflix is worth more than Disney, and it's all thanks to coronavirus 07 | TweakTown.com

But bigger than that is Netflix market capitalization, which breached $190 billion -- meaning Netflix is now bigger than Disney. Yeah, let that sink in for a minute. Even with Disney owning what feels like virtually everything in Hollywood between Pixar, Lucasfilm, Marvel and many others -- Netflix is a beast.

When you consider Netflix unleashed anticipated shows like The Witcher, and the mega-successful and very random Tiger Kings -- which has been the most popular docuseries on Netflix with a staggering 64 million households binge watching it in the first 4 weeks -- have come out in Q1 2020 mixed in with tens of millions of people stuck at home, these numbers are still a surprise.

If you haven't watched S3 of Ozark, I really suggest you do -- oh, and I'm now into S2 of Dark (S1 was fantastic) -- just sayin'.

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Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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