{"id":304225,"date":"2021-07-21T02:13:43","date_gmt":"2021-07-20T23:13:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/netflix-warns-of-slower-subscriber-growth-ahead\/"},"modified":"2021-07-21T02:13:43","modified_gmt":"2021-07-20T23:13:43","slug":"netflix-warns-of-slower-subscriber-growth-ahead","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/netflix-warns-of-slower-subscriber-growth-ahead\/","title":{"rendered":"#Netflix warns of slower subscriber growth ahead"},"content":{"rendered":"

“#Netflix warns of slower subscriber growth ahead<\/strong>”<\/p>\n

\n

Streaming giant Netflix blamed the pandemic for \u201clumpiness\u201d as it predicted a slowdown in new subscriber growth on Tuesday.<\/p>\n

Shares of the Los Gatos, California-based firm, known for hits like \u201cStranger Things,\u201d \u201cBridgerton\u201d and \u201cThe Crown,\u201d sank nearly 2 percent in after-market trading. <\/p>\n

Netflix said it brought in 1.5 million new subscribers in the second quarter, besting estimates of 1 million, but cautioned of slowing growth ahead. <\/p>\n

\u201cCovid has created some lumpiness in our membership growth, higher growth in 2020, slower growth this year, which is working its way through,\u201d the company said in a letter to investors. \u201cWe continue to focus on improving our service for our members and bringing them the best stories from around the world.\u201d <\/p>\n

\"Reed
Netflix co-CEO Reed Hastings cited the company\u2019s push into gaming for new growth. <\/figcaption>
Netflix<\/span><\/figcaption><\/figure>\n

Netflix said in the third quarter, it expects to add 3.5 million subscribers, falling short of analysts\u2019 estimates of 5.5 million. <\/p>\n

The slowdown comes at a time when rivals like HBO Max, Disney+, Amazon Prime Video and App<\/a>leTV+ are ramping up their offerings of new movies<\/a> and shows, giving the streaming giant a run for its money. <\/p>\n

Despite the ramped up competition, Netflix said its global subscriber tally is over 209 million, much higher than any of its competitors to date. <\/p>\n

For the second quarter, Netflix reported net income of $1.35 billion or earnings a share of $2.97 on revenue totaled $7.34 billion. Analysts had been looking for EPS of $3.16 on revenue of 7.32 billion. <\/p>\n

Despite the hiccup, Netflix remained optimistic, as a large amount of its new slate of content had been pushed into the second half of 2021 and 2022. <\/p>\n

\"Reg\u00e9-Jean
Netflix touted hits like \u201cBridgerton\u201d for its continued subscriber growth in the last year and a half. <\/figcaption>
Netflix<\/span><\/figcaption><\/figure>\n

The company said if it hits its subscriber forecasts, it will have added more than 54 million paid subscribers in the past 24 months, which is \u201cconsistent\u201d with its pre-COVID annual rate of net additions.<\/p>\n

The company called out \u201cSweet Tooth\u201d a new DC comic-inspired show, as well as \u201cShadow and Bone,\u201d a fantasy series based on the popular Grishaverse book series, for bringing in new subscribers in the quarter. <\/p>\n

Netflix also touted new reality dating shows like \u201cToo Hot to Handle\u201d and \u201cThe Circle,\u201d along with popular hits like \u201cBridgerton,\u201d \u201cLupin\u201d and \u201cQueen\u2019s Gambit,\u201d for retaining customers. <\/p>\n

\"Marcin
\u201cQueen\u2019s Gambit,\u201d which was released in Oct. 2020, was one of Netflix\u2019s most-watched scripted limited series.<\/figcaption>
Netflix<\/span><\/figcaption><\/figure>\n

Looking ahead, Netflix said it is in the \u201cearly stages\u201d of expanding into game<\/a>s, citing its \u201cStranger Things\u201d video game, as well as the interactive film \u201cBlack Mirror Bandersnatch.\u201d Last week, Netflix hired Facebook<\/a> and Electronic Arts gaming guru Mike Verdu to burnish its path into the lucrative video-game industry.\u00a0<\/p>\n

\u201cWe\u2019re excited as ever about our movies and TV series offering and we expect a long runway of increasing investment and growth across all of our existing content categories, but since we are nearly a decade into our push into original programming, we think the time is right to learn more about how our members value games,\u201d the company said.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Netflix warns of slower subscriber growth ahead” Streaming giant Netflix blamed the pandemic for \u201clumpiness\u201d as it predicted a slowdown in new subscriber growth on Tuesday. Shares of the Los Gatos, California-based firm, known for hits like \u201cStranger Things,\u201d \u201cBridgerton\u201d and \u201cThe Crown,\u201d sank nearly 2 percent in after-market trading. Netflix said it brought in…<\/p>\n","protected":false},"author":1,"featured_media":304226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/07\/netflix-55.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[112278,70237,1377,1372,2815],"class_list":["post-304225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-7-20-21","tag-corporate-earnings","tag-netflix","tag-streaming","tag-video-games"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/304225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=304225"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/304225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/304226"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=304225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=304225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=304225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}