Original article by Micah Maidenberg
The Australian – Page: 19 : 22-Apr-21
Subscription video-on-demand giant Netflix has posted a profit of $US1.71bn for the March quarter, compared with $US542.2m for the same period in 2020. Revenue rose from $US6.64bn previously to $US7.16bn, but Netflix added just four million new subscribers globally. This is well below the 15.8 million new subscribers it gained in the March 2020 quarter, amid the onset of the COVID-19 pandemic. The easing of lockdown restrictions and growing competition from rival SVODs services are among the challenges facing Netflix.