AS LOCKDOWNS LOOMED last year, people scrambled to stock up on home-survival essentials: food, medicine and a Netflix subscription. In the first half of 2020 the streaming company registered 25m new members worldwide, twice as many as had signed up in the same period a year earlier. With viewers hunkering down to see out the pandemic on the sofa, “Outbreak”, a disaster movie from 1995, made Netflix’s top ten.
Now as many of the world’s economies are reopening, Netflix’s growth is sputtering. On July 20th the company announced that 1.5m people had signed up in the second quarter of 2021, 85% fewer than a year ago. In America and Canada,
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