Is Coronavirus Boosting Netflix's Subscriber Growth?
Streaming video is big business, and getting bigger all the time. Revenue in the industry is expected to amount to $25.9 billion this year, growing at a compound annual growth rate (CAGR) of 4.1% and topping $30.4 billion by 2024, according to market and consumer data provider Statista.
Netflix (NASDAQ: NFLX) is by far the biggest player in the streaming space, with more than 167 million subscribers worldwide, and generating more than $20 billion in revenue in 2019. Those numbers are only expected to grow, as Netflix expects to add another 7 million subscribers in the first quarter alone.
Data provided by one analyst shows that the company may exceed expectations in the second quarter, due to the impact of the COVID-19 coronavirus outbreak.
Source Fool.com
