Netflix has seen an increase in subscriptions due to the coronavirus block, but has warned investors that subscriber growth will slow down.
The streaming giant added over 10 million subscribers in the three months to July, bringing the total new subscribers to 26 million in 2020.
By contrast, Netflix has seen 28 million new subscribers throughout 2019.
"Growth is slowing down when consumers go through the initial coronavirus shock and social restrictions."
Netflix shares declined in after-hour trading as investors digested the company's quarterly update.
Streaming service revenue increased nearly 25% to $ 6.1 billion (£ 4.9 billion), while profits rose to $ 720 million in the quarter, compared to $ 271 million the previous year.
Subscriber additions far exceeded analyst expectations.
- Netflix gets 16 million new memberships thanks to blocking
- Little Britain has withdrawn from iPlayer and Netflix because "times have changed"
While some people may still end up abandoning the service, "the pandemic has clearly shown that Netflix is an indispensable part of viewers' lives," said Paolo Pescatore, an analyst at PP Foresight.
Sophie Lund Yates, Hargreaves Lansdown equity analyst, said the streaming service will continue to spend heavily on new shows and films to retain its audience.
"While Netflix is still the largest fish in the tank, if it wants to keep it that way, there is work to be done," he added, adding that it should focus on markets outside the United States where there is greater growth potential. .
Netflix also announced that it was promoting Chief Content Officer Ted Sarandos as executive co-director.
"This change formalizes what was already informal - that Ted and I share Netflix's leadership," CEO Reed Hastings told administrators.
