The COVID-19 pandemic has crushed many businesses here and abroad. Its effect has been inevitable that business leaders have to find their means and ways to survive. And yes, it can be a matter of survival for all those that hold on to their grounds to beat the odds. While numerous corporations are worrying about the negative impacts of the COVID-19 pandemic, some companies like Netflix Inc. confidently stand to play their games.
The presence of Netflix Inc. in the United States and other countries around the world, for instance, allows its users to enjoy watching various films. Through streaming online, Netflix subscribers will enjoy their days and nights twenty-four-seven for the whole month or so due to the stay-at-home policies and travel restrictions. As a result, many of them do not have choices but to stay with the family members at home and watch Netflix shows.
As well, the pandemic compels people to follow the government rulebooks to maintain social distancing guidelines and stay-at-home policies. This crisis compels people to stay indoors forgetting their jobs in brick-and-mortar institutions. Based on the mandates of the local and national governments, many people cannot go to school, watch field sports, shop with people, and go to church. They cannot even go to the fitness centers. This status quo tends to limit them to go outside forcing them to find ways to get entertained. In effect, Netflix streaming services fast-tracked and went up to the exciting figure jumping to 32% in March (Swartz, 2020). The company found itself in the cloud nine as it experienced sudden jump of growth since March. This favorable outcome, as observed, would tell how Netflix Inc. has soared its figures and numbers at present.
Despite the growth of Netflix in the market this pandemic, Netflix Chief Executive Reed Hastings still worries about the present market. He mentions that competitors like Walt Disney Co., Amazon.com Inc., Apple Inc., and others are also working hard to maintain their positions and ranks in the market. These companies will not allow to lose without a close fight in the tough market competition.
However, Hastings accentuates that Netflix will gain benefits in the future. Subscribers and users of Netflix Inc. will still stream their movies and other shows online since the COVID-19 pandemic fails to show any sign of departure in the war on health.
To mention, Netflix Inc. would probably thank the COVID-19 pandemic. Its users and subscribers have gone through the roof. In February last year, Disney recounted that it had 28.6 million subscribers. Hulu had 30.7 million subscribers. However, Apple did not divulge its subscribers, and for no reason, readers did not know. Though Apple did not display its number of subscribers, Netflix gained 167 million subscribers including 61 million in the United States alone in 2019. Therefore, Netflix Inc. as the video streaming company would, without a doubt, express gratitude to the horrible pandemic.
References
Swartz, J. (2 May 2020). Netflix may have an edge on the competition as coronavirus keeps people looking for new shows. https://www.marketwatch.com/story/netflix-in-the-age-of-covid-19-streaming-pioneer-may-have-new-edge-on-competition-2020-04-07
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