Netflix keeps growing in pandemic, tops 200 million subscribers

Netflix on Tuesday topped subscriber growth expectations in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.

The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million, topping 200 million despite recent price hikes, its quarterly earning update showed.

“Covid-19 has accelerated that big shift from linear to streaming entertainment,” Netflix chief financial officer Spencer Neumann said on an earnings call.

“So, the underlying long-term looks good.”