Netflix has lost its subscriber target, shares have fallen in weak forecast TV News

During the October-December reporting season, the world’s largest streaming service released Red Notice and Don’t Look Up.

Netflix Inc fell short of Wall Street forecasts for new subscribers at the end of last year and offered a weaker-than-expected forecast for early 2022 as rivals intensified competition in the streaming of TV viewers.

The world’s largest streaming service added 8.3 million customers from October to December, when it released a wide range of new programming, including Red Notice and Don’t Look Up and a new season of The Witcher.

Industry analysts predict that Netflix will add 8.4 million customers, according to data from Refinitiv IBES.

Shares of Netflix fell 10 percent in overtime trading on Thursday.

The company’s global subscriber base reached $ 221.8 million.

Last week, Netflix raised prices in its largest market, the United States and Canada, where analysts say growth is stalling. The company is now looking to grow overseas.

The company was on a roller coaster ride on the roller coaster pandemic, which saw a sharp rise in early 2020 when people stayed home and cinemas closed, and then slowed in 2021. Netflix received more than 36 million customers in 2020, and 18.2 million a year. 2021.

By 2022, growth in Netflix subscribers was expected to stabilize and return to a pre-pandemic record, analysts say. The company’s next list includes new episodes of Ozark, Bridgerton and Stranger Things and a three-part documentary on Kanye West.

But competitors like Halt Max of Walt Disney Co. and AT&T Inc. are pouring in billions to create new programming to take a share of the streaming market.

Netflix had revenue of $ 7.71 million in the fourth quarter, estimated at $ 7.71 million.