Thursday December 5, 2019

Stranger things happen as fall in US Netflix users puts investors on alert

The streaming service is spending huge sums on new content, but its second-quarter financial results recently were its worst since 2011

21st July, 2019
Stranger Things’s third season is pulling in the punters on Netflix – but the overall outlook for the streaming service is gloomy

Netflix shocked investors last week by reporting a drop in US customers and much slower growth overseas, raising fears that the streaming giant is losing momentum just as competitors prepare to pounce.

The shares plunged 11 per cent to about $323 in pre-market US trading after Netflix reported the loss of 130,000 customers there. It signed up 2.8 million subscribers internationally in the period, roughly half what it had predicted.

“Netflix has a difficult road ahead, with looming competition...

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