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...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Hard Station: the strange world of tech embargoes

More Tech Brian Lloyd 11 months ago

Podcast: CWSI on securing remote workers during lockdown working

Podcast: Avaya on improving connectivity through the crisis

Tinkerer tailors a solution for property owners to save on water bills

More Tech Emmet Ryan 1 year ago