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Netflix Promises Growth Ahead After Languid Start to Year
Bloomberg 3 hrs ago Lucas Shaw
(Bloomberg) After Netflix Inc.’s year got off to the slowest start in nearly a decade, executives dismissed concerns about sagging growth and reiterated their confidence in the streaming giant’s long-term prospects.
The company has suffered a slowdown after pandemic lockdowns sent its membership soaring in 2020, but there’s still plenty of room of grow, Netflix said in remarks after posting its second-quarter results. And the industry remains in the relatively early stages of shifting from traditional television to streaming services, they said.
The company is also looking to new offerings such as video games to keep subscribers loyal.
The company has suffered a slowdown after pandemic lockdowns sent its membership soaring in 2020, but there’s still plenty of room of grow, Netflix said in remarks after posting its second-quarter results. And the industry remains in the relatively early stages of shifting from traditional television to streaming services, they said.The company is also looking to new offerings such as video games to keep subscribers loyal.
“Theres still a bit of choppiness to our growth,” Chief Financial Officer Spencer Neumann said in a pretaped interview with Nidhi Gupta of Fidelity Management. “Overall, the business is performing well.”
After shares initially tumbled 6.6% in the wake of Netflix’s earnings report, investors regained their confidence and sent the stock up more than 1% in late trading.
The streaming giant eyes foray into video gaming to push growth.
21 Jul, 2021 - 09:31 AM IST | By indiantelevision.com Team
New Delhi: After a meteoric rise in 2020, the US-based streaming giant Netflix s subscriber growth in early 2021 has slowed down. According to the company s latest financial results, the OTT platform has added just 1.5 million subscribers, compared to 10.1 million new sign-ins it reported during the same period last year.
Netflix, thus ended the quarter with 209 million paid memberships.
The APAC region represented about two-thirds of the global paid net adds in the quarter. However, its Q2 paid memberships in the US and Canada region were slightly down sequentially, as it lost 0.4 million paid memberships in the region. We believe our large membership base in UCAN coupled with a seasonally smaller quarter for acquisition is the main reason for this dynamic , said Netflix.