Netflix gained 517,000 U.S. subscribers during the company’s third fiscal quarter, though the streaming service’s subscriber gains were slightly below expectations. In a letter to shareholders, the company outlined a reversal of fortunes from its Q2 report, where the company reported a loss of 126,000 U.S. subscribers.
However, the company’s Q3 gains were nonetheless lower than its previous forecast of around 800,000 domestic net adds, and Netflix cited its recent price hikes as the reason its domestic subscriber growth has been slow in 2019.
“Since our U.S. price increase earlier this year, retention has not yet fully returned on a sustained basis to pre-price-change levels, which has led to slower U.S. membership growth,” the company said in its Wednesday letter to shareholders.”
It is possible that Netflix’s recent price increase could be a problem point for the company in the months ahead, as new streaming services such as Disney+,...
However, the company’s Q3 gains were nonetheless lower than its previous forecast of around 800,000 domestic net adds, and Netflix cited its recent price hikes as the reason its domestic subscriber growth has been slow in 2019.
“Since our U.S. price increase earlier this year, retention has not yet fully returned on a sustained basis to pre-price-change levels, which has led to slower U.S. membership growth,” the company said in its Wednesday letter to shareholders.”
It is possible that Netflix’s recent price increase could be a problem point for the company in the months ahead, as new streaming services such as Disney+,...
- 10/16/2019
- by Tyler Hersko
- Indiewire
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