Not all businesses have been forced to lay-off staff or even go into bankruptcy during the COVID-19 pandemic, some have had record results. And with everyone stuck at home in lockdown some TV companies are certainly seeing a boom start to 2020.
The coronavirus pandemic has helped the business of Netflix, the popular US video streaming service, which recorded 15.8 million new subscribers in the first quarter of this year, the largest quarterly growth in the company's history.
Netflix had $5.77 billion in revenue in the first quarter, up 1.25 billion from the first quarter last year. The total number of subscribers worldwide is now around 182 million.
The most watched content on Netflix in the first quarter was the documentary series "Tiger King: Murder, Mayhem and Madness", the reality show "Love Is Blind" and the movie "Spenser Confidential". In fact, the action-comedy movie, Spenser Confidential, starring Mark Wahlberg was the most watched show on Netflix with an estimated 85 million household tuning in.
Binge watching serials at home in the couch in lockdown has clearly filled many people’s quarantine time as Netflix also revealed that the rather bizarre docuseries “Tiger King” has drawn in amazing viewing figures, with 64 million households estimated to have watched it.
Although these figures from Netflix must be taken with a big lump of sugar as they aren’t able to be verified by any independent body. Whereas traditional television companies have a set list of regulations and independently monitored viewing figures, Netflix as an internet streaming service falls outside this structure. However, the growth in new subscribers can’t be denied as the COVID-19 pandemic has opened a whole new audience for the streaming service.
And it isn’t only serials and films that people have been watching on the couch, the sale of video games has also gone through the roof. Just in March the sale of video games increased by a massive 35 percent when compared with the same month from last year. Americans spent a mind-boggling $1.6 billion on video games, with Amazon being one of the main outlets.