Netflix subscriber growth is stalling as it runs low on hits
Netflix is seeing a slowdown in new subscriptions as the company puts out fewer shows following a year of delayed productions. The company now has 208 million paid subscribers across the globe, up from 204 million last quarter. That’s not much to complain about, but it’s a substantial slowdown compared to the rapid growth Netflix saw during the same time period in 2020 when it added four times as many new subscribers.
It’s also fewer subscribers than Netflix had hoped to add. The company believed it would hit 210 million subscribers by the end of the first quarter, but it came in 2 million short. The results were reported in Netflix’s Q1 2021 earnings release. Its stock fell around 10 percent in after-hours trading following the results,…