Businesses shut down…companies running in losses…severe groceries crunch…expenses piling up…while the Coronavirus outbreak has been taking a toll at every possible sector, there are a few which are digging gold. It is a known fact that the demand for face masks, sanitisers and hand wash has increased-giving an exponential boom to the respective manufacturers. However, streaming services started taking the master share in the companies which has been reaping unexpected profits post the viral break out.
As most of the people have been opting self-quarantine and with a majority of the government shut all malls, theatres and all sorts of public forms of entertainment, the demand for the ‘stay-at-home’ choices grew. Though the American market is saturated for one of such platforms, Netflix, it was observed that the number of hours spent has increased exponentially.
Meanwhile, potential markets like India is witnessing record time subscriptions. According to reports, Netflix stock is up by about 1.4% since the WHO declared a global health emergency toward the end of January. On this note, Netflix refused to comment on the effect of Corona on their company while it has shut down all film and TV production.
However, global analysts claim that nobody is really benefiting from a global economic downturn. “The coronavirus could still have long-term consequences for the industry. With stocks plummeting with each passing day, it will no doubt show the impact on the show business as well,” said one of the senior analyst.
