The online video service Netflix continues to benefit from remaining many people in the corona crisis at home and watching TV. However, the pandemie-related customer tower has already decreased significantly. After the subscription boom at the beginning of the year, 10.1 million payment subscriptions were found in the second quarter, as the streaming market drivers announced on Thursday after US Borsen in the California Los Gatos. There were still 15.8 million in the previous quarter. At the end of June, Netflix brought it to almost 193 million payment subscriptions worldwide. The company expects the rush further decreases.
"We expect less growth in the second year than in the previous year", Netflix Chief Reed Hastings explained in the letter to the shareholders. This was not good at the market, the stock dazquently dazzled by around twelve percent, although Netflix surprised his own quarter’s forecast and the many analysts. The company this year, however, is one of the largest borsen winners, which has already made 60 percent course plus in 2020.
In the previous quarter, the proclamations due to the Corona crisis and serial hits had such as "Tiger King" the video service brings an unusually strong increase in new customers, which caused the financial market for gross euphoria. The stock price climbed in the past few months from a record high to the next. With a boral value of around $ 232 billion, about 204 billion euros, the streaming market drivers even passed the Hollywood Giant Walt Disney, which the Corona crisis contrasts sharply to Netflix.
Sales and profit growth
The fact that the customer’s industry was allowed to abbreviated compared to the strong opening quarter, Netflix himself had already predicted. In addition, in the past quarter, there was also the fact that the very coarse blockbuster productions despite a new season of Crime Dramas "Money Heist", Spike lees new movie "Da 5 Bloods" or comedy production "Space Force" This time missing. There was still a business. Sales increased by strong 25 percent year-on-year to $ 6.2 billion and profit by far more than twice to $ 720 million, converted about 632 million euros.
Exercise of the CEO
In addition to the quarterly numbers Netflix was still a important personality decision. The Program Chief Ted Sarandos has been appointed in the company in the company in the company, in addition to Hastings on CO CEO CEO CEO and also receive a seat in the Motivate Board of Directors, which is superimposed with the Management Board. The change is officially, which was de facto already reality – namely, "that Ted and I give ourselves the lead of Netflix parts", charged hastings the step. Sarandos should continue to answer the program selection of streaming giants despite the request.