Netflix misses subscriber target, offers weak forecast - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The world’s largest streaming service added 8.3 million customers from October to December, when it released a heavy lineup of new programming including the star-studded movies “Red Notice” and “Don’t Look Up” and a new season of “The Witcher.”Shares of Netflix dropped 10% in after-hours trading on Thursday.Netflix last week raised prices in its biggest market, the United States and Canada, where analysts say growth is stagnating, and is now looking for growth overseas.

The company rode a roller coaster during the pandemic, with steep growth early in 2020 when people were staying home and movie theaters were closed, followed by a slowdown in 2021.In 2022, Netflix’s subscriber growth had been expected to stabilize and return to the pace logged before the pandemic, analysts say.

The company’s upcoming slate includes new installments of “Ozark,” “Bridgerton” and “Stranger Things” and a three-part Kanye West documentary. But competitors including Walt Disney Co and AT&T Inc’s HBO Max, are pouring billions into creating new programming to grab a share of the streaming market.This entry was posted on 21 Jan 2022,12:12AM at 12:12 AM and is filed under

NetflixSA slowly becoming crappie like DSTV.

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