Netflix is as stable as any company on the planet right now

FROM OUR OBSESSION

The Third Age of TV

First came broadcast, then cable, now streaming.

Most companies are having a tough time these days. Netflix, however, is doing just fine.

The streaming service revealed today that it added more than 10 million global subscribers in the second quarter, beating both Wall Street estimates and its internal forecast by several million. Nearly 3 million of those new subscribers came from the United States—the biggest addition of US members in a single quarter in many years.

It was almost as impressive as last quarter’s earnings report. In Q1, Netflix added a record 15.8 million subscribers as many parts of the world began shutting down because of the coronavirus pandemic. The company said the accelerating growth of new subscriptions to the service was due directly to widespread home confinement.

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