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Netflix’s subscriber growth, stock zapped as pandemic eases

today04/21/2021 26

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SAN RAMON, Calif. (AP) — Netflix’s pandemic-fueled subscriber growth is slowing far faster than anticipated as people who have been cooped at home are able to get out and do other things again.

The video streaming service added 4 million more worldwide subscribers from January through March, its smallest gain during that three-month period in four years. The performance announced Tuesday was about 2 million fewer subscribers than both management and analysts had predicted Netflix would add during the first quarter.

It marked a huge comedown from the same time last year when Netflix added nearly 16 million subscribers amid pandemic-driven lockdowns that created a captive audience for the video service.

 

Source: AP – All contents copyright 2021 Associated Press.  All rights reserved.

 

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