As the global economy continues to suffer under the weight of the COVID-19 pandemic, companies across all sectors are struggling to stay afloat. However, one company seems to be bucking the trend: Netflix.

Despite the economic downturn, the streaming giant’s subscription numbers continue to grow. According to its Q1 2021 earnings report, the company added 4 million new subscribers in the first quarter alone, bringing its total global subscriber count to over 208 million.

This growth is particularly surprising considering that many consumers are cutting back on non-essential expenses in the face of economic uncertainty. However, experts say that the very factors that are causing financial strain for many consumers may actually be benefiting Netflix.

For one thing, as more people find themselves stuck at home due to lockdowns and social distancing measures, they are turning to streaming services like Netflix for entertainment. In addition, with movie theaters closed or operating at reduced capacity, many people are looking to streaming services as a replacement for the cinematic experience.

But perhaps the biggest factor driving Netflix’s growth during the pandemic is the company’s unique business model. Unlike traditional cable and satellite TV providers, Netflix does not rely on advertising revenue to fund its operations. Instead, the company generates revenue solely from subscription fees, which means that it is not as vulnerable to fluctuations in the advertising market.

Furthermore, because Netflix’s content library is entirely digital, the company does not need to worry about the production and distribution challenges that many traditional media companies are currently facing due to COVID-19. This has allowed Netflix to continue to release new original content on a regular basis, even as other companies have been forced to delay or cancel projects.

In fact, Netflix has used the pandemic as an opportunity to double down on its investment in original content. In 2020 alone, the company spent an estimated $18.5 billion on content, and it has already announced plans to spend even more in 2021. This investment in new and original content has allowed Netflix to stay ahead of its competitors and maintain its position as the leading streaming service in the world.

Of course, it remains to be seen whether Netflix’s success will continue once the pandemic is under control and people begin to resume more normal activities. But for now, the company’s unique business model and its ability to adapt to the challenges of the pandemic have allowed it to thrive in a downturned economy.

Some experts predict that even after the pandemic is over, the shift towards digital entertainment may continue, as more and more people become accustomed to the convenience and variety offered by streaming services. If this is the case, Netflix’s future looks bright indeed.