April 6, 2020
Netflix reports first-quarter (ended March 31) financial results on April 21, and its subscriber growth during the ongoing coronavirus pandemic is expected to exceed the SVOD pioneer’s own estimates.
That, according to new data from Wall Street firm Sun Trust Robinson Humphrey. The firm says a combination of strong content (i.e. current hit “Tiger King”) and worldwide global appeal/deference to localized content should push total sub growth upwards of 9.5 million compared to Netflix’s projection of 7 million subs.
Netflix ended 2019 with 167 million subs worldwide, including 67 million in North America.
Not surprisingly, Sun Trust Robinson Humphrey has a “buy” rating on Netflix’s stock, which is up 2.9% in early April 6 trading.