EbeneMagazine – CA – Netflix Failed To Meet Third Quarter Subscriber Targets As Massive Growth Amid Pandemic Slows


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Netflix failed to meet third quarter subscriber growth targets, having posted massive growth earlier in 2020 as the pandemic fueled streaming viewership

The streaming company said on Tuesday it added 22 million paid subscribers in the third quarter, up from 33 million analysts expected

The streaming service blew analysts’ estimates of growth in subscriber numbers in the first two quarters of 2020 as the pandemic increased streaming viewership numbers

But Netflix also predicted that growth would slow significantly in the second half of the year The company predicted it would bring in 25 million paid subscribers in the third quarter, up from 68 million added members in the period. last year

Indeed, website tracking data from analytics firm SimilarWeb suggests growth stagnated internationally during the June to September period.

Analysts will also be watching to see if the controversy surrounding the movie « Cuties, » which upset some after its release in the US, will hurt Netflix’s growth

Looking ahead, analysts want to know more about Netflix’s long-term growth, including its list of upcoming releases, price hike plans, and productions restarting after being cut short by the pandemic

Disclosure: Mathias Döpfner, CEO of Business Insider parent company Axel Springer is a member of the Netflix board of directors

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EbeneMagazine – CA – Netflix missed its third quarter subscriber targets as massive growth amid pandemic slowed

SOURCE: https://www.w24news.com



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