General News

Why Could Coronavirus Benefit Netflix and Streaming Services?

Coronavirus

Since the outbreak of Coronavirsu aka COVID-19 in Asia, Europe, and the Middle East, the WHO warned that the world was not ready for a major epidemic and suggests people from all around the world to stay home.

Therefore, BMO Capital Market analyst Dan Salmon said that “is an obvious beneficiary if consumers stay home due to coronavirus (COVID-19 virus) concerns, and this has been reflected in considerable stock price outperformance this week,” and Netflix shares were up 0.8% this week, after the worst sell-off on Wall Street in close to 9 years.

Not only Netflix getting the obvious benefit of Coronavirus if people are staying home and prefer to stream their favourite TV shows and movies, but other services like Amazon Prime, Hulu, Disney Plus, etc. are getting more viewers. Moreover, the popular gaming services like Sony and Microsoft are getting more users because of major outbreak of COVID-19.

The MKM Partners analyst JC O’Hara also wrote that “We tried to identify what products/services/companies would potentially benefit in a world of quarantined individuals. What would people do if stuck inside all day? So we can say that these companies are getting benefit from people staying at home right now since the virus sickened more than 89,000 people in at least 68 countries as the virus originated in Wuhan, China.

The CDC has also warned travel to avoid travelling to Japan, Italy and Iran. They also suggest that try to keep your hands frequently clean and avoid sick people near you as WHO told that the virus seems to spread through droplets in the air from a cough or sneeze.

About the author

mm

Seth

Seth is one of the most experienced writers at Rexweyler. He loved to travel to new places and chat with new people. The most interesting thing about him that he’s fully attached to every tech gadget. You can share any leaks, tips, or ask questions at seth@rexweyler.com.

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *