The subscriber additions were far higher than analysts had expected.
While, some people might still end up quitting the service, the pandemic has clearly shown that Netflix is an indispensable part of viewers lives, analysts said.
Netflix also announced it was promoting chief content officer Ted Sarandos to co-chief executive.
CEO Reed Hastings told investors: “This change makes formal what was already informal – that Ted and I share the leadership of Netflix.”
Netflix was founded in 1997by Reed Hastings and Marc Randolph in Scotts Valley, California. The company’s initial business model included DVD sales and rental by mail, but Hastings abandoned the sales about a year after the company’s founding to focus on the initial DVD rental business. Today, Netflix produces and distributes content from countries all over the globe.
Netflix has cultivated those audiences with movies such as Okja, a movie made by one of South Korea’s top directors about a young girl’s quest to recover a giant companion from a multi-national corporation.
The company also said it expected international members to help boost profits for the year – a first for that part of the business.
The growth helped Netflix to report a 32% rise in second quarter revenues to $2.8 billion, and it expects revenues to reach nearly $3 billion in the third quarter.
Netflix profits for the second quarter of 2017 were $65.6 million, up about 60% year-on-year.