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Netflix Gains Viewers During Lockdown With Shares Rising By 7%

Pritish raj by Pritish raj
April 15, 2020
in News, Netflix, OTT
Reading Time: 2 mins read
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  • Netflix shares rose to a high of $413 per share for 52 weeks on Monday and are the highest gainer during the lockdown period.

After the government declared the lockdown time, OTT platforms were gaining significant popularity as people were staying and relying on platforms to entertain themselves. In the entire lockdown era, the OTT streaming industry has seen a growing curve both in demand and benefit. The streaming giant Netflix has been the biggest OTT gainer in the entire quarantine era, amongst others. Also, the demand for streaming services is expected to grow further as the government extended the lockdown period for another 19 days to neutralize the Coronavirus threat.

Netflix shares rose to a high of $413 per share for 52 weeks on Monday, before closing at $396.72 per share.

To date, Netflix stock is up more than 22 percent year, while the broader S&P 500 is down 14.26 percent year-to-date and down 25 percent from its high. The Dow Jones Industrial Average dropped by 1.37%, while the S&P 500 dropped by 1.01%. Upon the jump of Netflix, the Nasdaq Composite rose 0.48 percent.

Investors flocked to keep stocks at home. William Blair, an investment firm, said at the end of March that Netflix might see a rise in subscribers as people are stuck at home spending more time watching video services. Needham has indicated that coronavirus could be bad for Netflix, however, because it’s seen as a luxury good for people who could cut back on expenses.
Money heist Netflix- Next Big Brand
Money Heist Is one of the biggest reason behind Netflix’s Rise.
Netflix subscribers spend an average of eight minutes a day on the site during the lockdown time, according to the reports gathered by KalaGato. The primary reason behind the Netflix platform’s increased demand is the combination of original premium shows along with streaming movies such as Jaamtara, Taaj Mahal 1989, and Yeh Ballet. Additionally, Netflix’s average active users (DAU) and available rate were up 102 percent and 68 percent respectively. Netflix is also expected to carry out more original episodic shows in the second half of the shutdown era to cater for people’s entertainment needs in times of stress.

Surprisingly, over the entire lockdown period, Hotstar, which is one of the most requested OTT platforms, posted a 30 percent drop in total session time. The main reason behind the decrease is the platform’s numerous user libraries. Moreover, the absence of sporting events, which is Hotstar’s main USP, was discontinued due to the COVID-19 outbreak, which further reduced the platform’s overall session time. It is expected, however, that Hotstar will maintain demand with the launch of Disney+ in India, as the service has attracted eight million subscribers only after the launch.

Though the demand for Amazon is slightly inclined towards the negative side, the steaming platform witnessed 83% more daily average users (DAU) in the lockdown period. Also, the platform is pushing out some of the premium shows for its users to make sure they have an entertaining quarantine period.

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Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

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