Netflix video broadcast services have been reported in the first quarter of this year. Netflix streaming video service published a report for the first quarter of 2020. Revenue for the reporting period was $ 5.768 billion. That’s up 27.6% from the first quarter of last year, the equivalent of 4. 4.521 billion. Operating profit increased from $ 459 million to $ 958 million during this year. Net income for the year increased from $ 344 million to $ 709 million.
The number of paying users for the year increased from 148.86 million people to 182.86 million people, up 22.8%. The perpetrators of this report predict that the number of paid subscribers to the Netflix service will exceed 190 million in the current quarter.
The report pays close attention to Netflix’s actions in the coronavirus pandemic. Recall that when almost all studios stopped production. The company allocated $ 100 million in March to support people involved in television and film production. According to the report, in addition to this additional amount, an additional $ 50 million was allocated.
Netflix provided $ 100 million to support people involved in TV and movie production
First of all, these are Netflix employees, but not just them. The COVID-19 pandemic has devastating effects on many industries. Including television and film production. Almost all studios have stopped production. Also, all the studios have stopped making thousands of creative and technical workers unable to work. These include electricians, carpenters, drivers, hairdressers, makeup artists, and many others, many of whom work at least once an hour.
Netflix announced its intention to support them. To this end, he created a $ 100 million fund. Most of the funds will support the most affected internal Netflix employees in the world. This financial aid will complement Netflix ’s previous commitment to pay all employees two week’s wages.
In addition to helping employees, Netflix also hopes to support other industry representatives. More specifically, $ 15 million will be transferred to third parties and non-profit organizations to provide emergency assistance to non-working Netflix teams. These funds will be used in countries where Netflix has a large production base, such as in the United States.
Netflix subscribers reach 148 million
In the first quarter of 2019, video broadcasting service revenue reached the US $ 4.521 billion. Netflix video broadcast service report in the first quarter of this year
Revenue during the reporting period was the US $ 4.521 billion. This is an increase of 22.2% from the first quarter of 2018. The report said that operating income reached 459 million US dollars. For comparison, a year ago it was equal to $ 447 million. Annual net profit increased from the US $ 290 million to the US $ 344 million.
The report compiler noted that the number of paying subscribers has increased. In one year, it increased by 23 million to 138 million. In the reporting quarter alone, subscribers increased by 9.6 million, exceeding the expected 8.9 million.
As of March 31, 2019, the company’s total assets were US $ 27.22 billion, of which cash and cash equivalents were US $ 3.35 billion and current assets were the US $ 4.17 billion. Therefore, most assets are not classified as current assets. This is mainly content worth $ 20.89 billion. Real estate and equipment accounted for $ 434 million.