Netflix doubles expectations by adding almost 16 million subscribers amid pandemic

Netflix just added a huge number of subscribers amid the coronavirus crisis, significantly beating its previous forecast for the quarter.

The streaming company on Tuesday said it added 15.77 million subscribers in the first quarter of 2020, more than double the 7 million it was originally forecasting, Variety reports. Analysts were also projecting about 8.47 million additional subscribers, per Bloomberg. Netflix has now reached 182.9 million subscribers globally.

This better-than-expected quarter comes as viewers stuck at home during the coronavirus crisis flock to streaming, with Netflix's Tiger King becoming a particularly big hit during that time. In fact, Netflix's market value last week topped Disney's when it reached $187.3 billion. Disney+ also earlier this month announced some impressive numbers, saying it reached 50 million subscribers globally, a milestone analysts once expected to take until 2022.

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In a shareholder letter, Netflix described itself as "fortunate to have a service that is even more meaningful to people confined at home," The Verge reports. At the same time, the company noted that it expects "viewing to decline and membership growth to decelerate as home confinement ends, which we hope is soon," also saying, "In our 20+ year history, we have never seen a future more uncertain or unsettling."