Netflix has reported an unprecedented user surge with 16 million new sign-ups from around the world amid COVID-19 lockdown.
The streaming service has announced a profit of US$ 709 million on revenue of US$ 5.8 billion in the first three months of this year, while the number of paid subscribers grew by 15.7 million from the previous quarter to total nearly 183 million, according to earnings figures.
Netflix officials further expect a further increase of 7.5 million paid subscriptions till June, along with the already increased share price that has climbed more than 30 per cent this year.
In wake of this unprecedented surge in user demand, Netflix has resorted to reducing its video quality in Europe to ease the burden on internet service providers, while another 2,000 customer support staff has been hired for additional assistance.
Streaming television service competitors have temporarily suspended all productions across the world due to virus pandemic. However, Netflix has a library with thousands of titles and an array of show launches ready for release.
