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Disappointing new Netflix subscriber growth
Streaming service Netflix brought in fewer new subscribers in the fourth quarter than US stock analysts had expected. The number of new customers reached 8.3 million. Experts have assumed that Netflix will reach 8.4 million new subscribers. The service now has 221.8 million subscribers worldwide.
In the third quarter, the streaming service was still very successful with the South Korean thriller series Squid Game and the company has recently released a lot of new series and movies.
In addition to the lower than expected number of subscribers, there was more disappointing news. Netflix has indicated that it expects to grow 2.5 million new customers for the first quarter of this year. Equity analysts expected more.
Rising prices
Increasing subscription prices may have undermined Netflix’s popularity. The company recently made subscriptions more expensive in the United States and Canada, but it did so last fall in the Netherlands, Germany and Austria, among other countries.
On the other hand, Netflix is getting more and more competition. Disney, Amazon, and HBO are becoming more and more successful.
