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Media & Entertainment

Netflix adds nearly 16 million new subscribers amid coronavirus outbreak

Asia-Pacific revenue jumps over 50% with record 3.6 million new paid users

Netflix viewership and subscriptions spiked the past quarter, but the company warned investors that a slowdown in growth is expected after lockdowns in individual countries are lifted later this year.   © Reuters

PALO ALTO, U.S. -- Netflix reported a record spike in subscriptions in the first quarter this year, with 15.8 million new users signing up for its paid membership. The U.S. streaming service provider attributed the uptick partly to the coronavirus pandemic, which has left a large part of the world's population confined at home with limited entertainment options.

However, Netflix also warned investors of a potential slowdown down the road, as the coronavirus-driven growth might not be sustainable.

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