The coronavirus pandemic has ravaged entire industries, tanking businesses and forcing executives to completely rethink strategies.
Netflix is not one of those companies.
The streaming service added a record number of new subscribers in the first quarter of 2020, which the company acknowledged in a letter to investors (pdf) was due to widespread home confinement. That a business predicated on at-home entertainment viewing benefited from consumers staying at home wasn’t the surprise. The surprise was just how much it benefited.