‘Stranger Things‘ helped boost Netflix user growth
The latest season of the Georgia-filmed Netflix original series helped boost “significant re-acceleration” of app downloads, according to a new note to investors from Bank of America this Monday morning.
Netflix’s app downloads have increased by 18% each year, according to data from SensorTower. Most of the user growth came from outside of the United States, where app downloads increased 34% in comparison to last year. Moreover, U.S. app downloads have increased 13%, according to the report.
Bank of America said Netflix has been “likely aided by the release of ‘Stranger Things’ Season 3,” which came out on the Fourth of July weekend. Netflix said that the latest season of “Stranger Things” broke records during its first four-days on the service, with nearly 41 million accounts watching the show. Netflix shares increased by 2.5% in early trading on Monday, hitting $297 per share.
This news comes after a report found ‘Stranger Things’ filming boosted local Georgia businesses. Palmetto, Georgia is a small town of fewer than 10,000 people and 25 miles southwest of Atlanta. But after “Stranger Things” premiered in 2016, it has become a routine for employees to see “Stranger Things” fans. Fans have visited the store every day since the store reappeared in the third season on July 4th, according to Piggly Wiggly manager David Johnston. The AP reports 50 fans showed up on one Saturday in mid-July, he said.
“You can spot them in the crowd when they come in here,” Johnston said. “The girl the other day was dressed like Eleven, all the way to the blood running down her nose.”
It should not come as a surprise. The ‘80s sci-fi series broke Netflix streaming records with their third season. 40.7 million accounts watched it, and 18.2 finished it within the first four days of release.