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20 Jul 5:11pm

Netflix blames pandemic as it misses growth forecasts

The Guardian
Company adds only 1.54m subscribers in last quarter, citing post-lockdown decline in interest and Covid-related production hitches Netflix missed its growth forecasts in the last quarter, blaming a post-lockdown decline in interest in the streaming service and a Covid-related slowdown in new productions. The company added 1.54 million new subscribers, below the 1.75 million analysts had expected and a fraction of the 10 million it added in the second quarter a year earlier, when much of the world was in lockdown.
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