Netflix, in its latest quarterly reports, has revealed a massive surge in subscribers to its platform. It has got an enormous 16 million viewers to its fold. It has earlier predicted a 7 million number, but that was before the coronavirus pandemic led lockdown.
The 16 million addition of paid subscribers to Netflix has taken its total subscribers to over 180 million. It is around 182.9 million, currently. While it is a number to rejoice, Netflix has warned its stakeholders to be wary of the sudden jump.
It has explained in detail how things could be difficult ahead, once the lockdown is lifted or even if it is extended for a long time.
The problem is the freezing of the production of new content. All the work has stopped due to pandemic. It means in the coming days, Netflix will soon be having a shortage of original content. Add to it the fact that, new streaming players in the market are coming with a vast content library, giving them an edge.
For example, the much-loved series like Friends, Big Bang Theory and others would be available on the newly launched platforms instead of Netflix. With no new material and existent classic content leaving the platform, it will be a tough time ahead for Netflix.
Everything will, of course, depend on the lockdown. How long it will continue and when it gets lifted will play a key role in deciding the future direction of digital entertainment, and the platforms serving it.
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