To be sure, in these summer months, as people do more outdoor activities like going to the beach or hiking, subscribers could cancel service just as quickly as they signed up for it.

He also notes that around 110 million ofР’В NetflixРІР‚в„ўs more than 180 million total subscribers are outside the United States and Canada. РІР‚СљNetflix has to find ways to continue to meet the needs of its vastly growing audience around the world to keep them coming back for more,РІР‚Сњ says William Simon, Korn FerryРІР‚в„ўs global sector leader for media and entertainment. For instance, NBCРІР‚в„ўs Peacock streaming service launches this week, joining Amazon, Apple TV, HBO Max, Hulu, and dozens of others vying for consumer eyeballs and dollars. Prepandemic, the company's previous quarterly high for subscribers was 9.6 million.Р’В The challenge for NetflixРІР‚в„ўs leaders now is to figure out ways to hold onto all these new subscribers during an increasingly competitive time for streaming video. Netflix added 10.1 million new subscribers globally in the second quarter after signing up nearly 16 million subscribers in the first quarter. Not unlike Amazon, for instance, NetflixРІР‚в„ўs business is booming-its stock price is up more than 60% year-to-date.

Netflix isnРІР‚в„ўt an essential business, but based on the way people around the world are subscribing to the streaming service it seems as though it is as vital as food and water.

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