Netflix Versus Amazon Prime: The Race to 200 Million Subscribers
While many businesses struggle to survive the consequences of the COVID-19 pandemic, Netflix (NASDAQ: NFLX) and Amazon (NASDAQ: AMZN) are thriving. The two benefit as people worldwide are hesitant to leave their homes and avoid exposing themselves to the virus.
Since the start of the pandemic, consumers flocked to Amazon to help fill their essential shopping needs. Similarly, as movie theaters and other entertainment venues were ordered to close, Netflix was a beneficiary in the surge of demand for in-home entertainment. The two companies will report earnings later in October, and both could potentially report having surpassed 200 million subscribers.
Netflix is closer to reaching the 200-million-subscriber milestone. Image source: Netflix.