The streaming provider forecasts slower growth.
(Photo: AP)
The cats The streaming market leader Netflix only expects weak user growth after the Corona boom. For the current quarter, the company expects only 2.5 million new customers, as announced on Thursday after the US stock market closed in Los Gatos. This left Netflix well below the analysts’ forecasts. The stock fell more than 20 percent in after-hours trading. The papers of the competitor Roku lost five percent, Walt Disney four percent.
Netflix benefited from the restrictions in the first wave of the pandemic in 2020. At that time, the group gained 36 million new customers. In 2021, the number grew by 18.2 million to a total of around 221.8 million. Increasing competition also contributed to the weakening growth rates. Rivals like Walt Disney and AT&T subsidiary HBO Max have invested billions to break into the highly competitive streaming market. Last week, Netflix raised prices in its largest markets, the US and Canada.