Your quarantine binging boosts Netflix profits
As more consumers choose to stay at home to avoid the coronavirus, services that deliver home entertainment and food could see a financial boost, experts say.
“Our small contribution in these difficult times is to make home confinement a little more bearable,” said Reed Hastings, Netflix’s CEO, said in a video presentation for investors. Ted Sarandos, Netflix’s chief content officer, added that the 2020 slate of series and films have been largely shot and are in post-production. He said Netflix is “pretty deep” into its 2021 slate and is shooting some projects in Iceland and South Korea, “taking those key learnings and applying them to plans for productions around theHighly-anticipated programs such as the fourth season of “The Crown” will be released as planned. “We don’t anticipate moving things around,” Sarandos said.
Netflix continues to distribute some of the most talked-about shows, including the docuseries “Tiger King,” which drew 64 million households and unscripted dating show “Love is Blind,” which pulled in 30 million households during its first four weeks. Netflix counted households that watched at least two minutes of the programs.
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