Netflix doubles expected signups, warns boost may fade

Netflix has doubled its own projections for new subscribers as housebound audiences across the globe binge on popular series like "Tiger King."

The world's largest streaming service gained nearly 16 million paying customers from January through March bringing its global total to over 180 million.

But CEO Reed Hastings warns the boost - may fade.

(SOUNDBITE) (English) NETFLIX CEO, REED HASTINGS, SAYING:

"People want entertainment, they want to be able to escape and connect, whether times are difficult or joyous. That's pulling up .. we've had an increase in subscriber growth in March that's, you know, essentially a pull forward of the rest of the year. So, our guess is that subs(criptions) will be light in Q3, Q4 relative to prior years because of that."

Netflix is among the few businesses to benefit from stay-at-home orders around the world.

The company said the global shutdown of film and TV production could delay some programming by a quarter but that the impact would be relatively modest.

The company's head of content Ted Sarandos says - a lot of this year's schedule is already in the bag.

(SOUNDBITE) (English) NETFLIX CHIEF CONTENT OFFICER, TED SARANDOS, SAYING:

"So, our 2020 slate of series and films are largely shot and are in post-production remotely in locations all over the world. So, and we're actually pretty deep into our 2021 slate."

As the streaming market in the United States becomes more competitive with the debut of rival services such as Disney Plus, Netflix has been pushed to look for growth overseas.

The most popular plan in the U.S. costs $13, nearly double the price of Disney Plus.

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