REUTERS: Netflix Inc said on Wednesday it lost U.S. streaming customers for the first time in eight years and missed targets for new subscribers overseas, an announcement that jarred investors ahead of looming competition.
"Our missed forecast was across all regions, but slightly more so in regions with price increases," the company said a letter to shareholders.AdvertisementNetflix has staked its future on global expansion and creating original TV shows, movies and documentaries to attract new customers and keep the existing ones paying monthly subscription fees.
The last time Netflix lost U.S. subscribers was in 2011 following an uproar over a price hike and a plan to split its DVD-by-mail and streaming services. Netflix also faces the future loss of its two most-streamed shows."The Office" will come off Netflix in January 2021 and head to Comcast's streaming platform, while"Friends" will end its run on Netflix at the beginning of 2020. It will move exclusively to the upcoming AT&T service HBO Max.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US judge slashes Roundup jury award to US$25.3 million; Bayer still plans to appealA federal judge on Monday reduced a damages award that Bayer AG owed a man who blamed his cancer on the glyphosate-based weed killer Roundup to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Keppel-KBS US Reit posts Q2 DPU of 1.5 US centsAN enlarged number of units from a rights issue, which outweighed contributions from two more recently acquired properties, led Keppel-KBS US Reit (KORE) to post a distribution per unit (DPU) in its second quarter ended June 30 of 1.5 US cents, lower than its forecast of 1.58 US cents for the period. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
US-based Accel backs familiar faces at startup Travelstop in US$3m roundUS venture firm Accel is putting money behind business travel management startup Travelstop, reuniting the investor with alumni from vacation rentals platform Travelmob. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Amazon offers US$10 to Prime Day shoppers who hand over their dataAmazon.com Inc has a promotion for U.S. shoppers on Prime Day, the 48-hour marketing blitz that started Monday: Earn US$10 of credit if you let ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Wary US swimmers share waves with deadly sharks off Cape CodAt the entrance to Newcomb Hollow Beach, at the tip of the Cape Cod peninsula, the picture of a great white shark reminds swimmers that the US ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tesla cuts price of mass-marked Model 3, lifts prices of premium EVsBEIJING: U.S. electric vehicle maker Tesla Inc has lowered the price of its mass-marked Model 3 and raised the prices of its premium Model X and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »