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Winning Products in COVID-19 Economy
COVID-19 has created a new normal and some products are flourishing despite the crisis. There are a few interesting success stories which are worth knowing about.
1. Netflix
More than its growth, I am fascinated with the humility of Netflix’s CEO Reed Hastings to acknowledge the “terrible crisis” and to caution investors to not expect same growth post crisis. As reported in Fortune, Hastings wrote to shareholders: “At Netflix, we’re acutely aware that we are fortunate to have a service that is even more meaningful to people confined at home, and which we can operate remotely with minimal disruption in the short to medium term,”…“Like other home entertainment services, we’re seeing temporarily higher viewing and increased membership growth.”
Netflix growth stats:
- Netflix gained 15.8 million new subscribers in the Q1, 2020, which is more than double of its forecasted 7 million new subscriptions (Fortune)
- New research report from MoffettNathanson in partnership with HarrisX suggests that Netflix took up 72% of the streaming time in homes (The Verge)
- NFLX stock price is…
