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Old 21-04-2021, 10:17   #139
1andrew1
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Re: The future of television

Reflecting Chris's point the other day about the pandemic-led streaming boom, Netflix is now reporting growth below target. Interesting to see it blaming last year's growth too.
Quote:
Netflix records dramatic slowdown in subscribers as pandemic boom wears off

Streaming giant adds 4m subscribers, 2m below forecast

Company blames dearth of new content and last year’s growth


Netflix reported a dramatic slowdown in subscribers in the first three months of 2021, ending a record run in growth during the coronavirus pandemic.

The streaming giant added 4 million new subscribers in the first quarter, 2 million fewer than its original estimate of 6 million and a quarter of the 8 million it added in the last three months of 2020. The company expects to add only about 1 million subscribers in the current quarter, which would be its slowest growth on record.

The company said a slowdown in production of new content because of the pandemic and last year’s massive gains were responsible for the fall. Netflix’s share price dropped 11% on the news.

The latest results came after a period of extraordinary growth for the company which added more than 36 million subscribers in 2020 to pass 200 million subscribers worldwide as Covid 19 triggered lockdowns across the world. That pandemic boom now seems to have run its course.
https://www.theguardian.com/media/20...boom-wears-off
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