closedownarrowexternal-linklogo-verticalmenu-barsearch Skip to main content
Jump to navigation
netflix tv app

Streaming giant Netflix might have its sights set on global domination, but it may have to reel in its expectations somewhat. That's because its growth in the last three months was less than expected.

Instead of adding the expected 1.15 million new subscribers in the US, it only managed 880,000, the firm announced in its earnings report.

This is thought to be due to the arrival of streaming rivals HBO Now and Showtime in the US.

HBO Now alone is thought to have gained up to 2 million subscribers since launching in April.

Netflix's stocks fell 10 per cent after the announcement.

The firm's profit revenue also fell to $74 million, down from $110 million in the same three months last year. That's because of the company's big investment in original content.

Internationally, the picture was rather rosier. Netflix gained 2.74 million subscribers around the world, which was above target for the period. It now has over 70 million subscribers worldwide, and expects to reach 74 million before the end of the year. So the situation isn't exactly dire.

It also has a Bill Murray Christmas special that's available from December 4th.

Source: Netflix

Via: VentureBeat

Join the conversation

comments powered by Disqus

Stay up to date

  • Google+ Follow uSwitchTech
  • Subscribe to our RSS feed

Latest comments

  • Kyle Dowling 3 days ago Hollywood lands major blow... Couldn't he jsut transfer ownership to another person in a country with more lax laws?
  • Donald Silverburgh 4 days ago Illegal Kodi boxes could... I mean what kind of article is this? Frankly mate, just tell me, is someone paying you to write such...
  • Andy Kill 1 week ago TVPlayer review Why don't you mention you have to have other apps as well like BBC iPlayer, and do these use your data...

Search news