Netflix CEO Reed Hastings said the coronavirus was “a stroke of luck” for the company, according to Forbes. “What we have to recognize is that sometimes you have a lucky break for a business and it’s not your fault. Don’t feel guilty,” Hastings said in an interview with The Times.
The audio-visual content industry giant did not suffer the impact of the covid-19 pandemic like millions of other companies around the world. On the contrary, in the first three months of 2020, some 16 million users created their accounts on the service, almost twice as many as in the last months of 2019.
Netflix’s stock price also rose more than 30 percent this year, as investors believed they could profit from the fact that people started spending more time at home, according to RT. “It turned out to be a biological virus that mostly didn’t kill people, but locked them up at home,” Hastings said.