time to read 1 minutes

Netflix maxed-out on subscribersINTL

Netflix maxed-out on subscribers

Uh-oh, things are not looking good for Netflix (NFLX) — the company’s shares dropped around 11% after it reported a massive slowdown in subscribers during the first three months of 2021. The streaming platform registered four million new subscribers at the end of Q1, two million less than its estimate and way below the eight million people who signed up in Q3 2020.

Netflix had a proper good run during the pandemic, adding an astounding 36 million new paid subscribers to its financial sheet in 2020 — but, alas, all that is good must come to an end. The company now expects to add only one million subscribers in the current quarter, which was bound to happen as people slowly return to a more normal lifestyle (thank you, vaccines).

why it matters
Netflix is blaming the lack of fresh content, but we suppose since they're up against other platforms that seem to be pumping out new Avengers shows continuously (btw, Disney+ now has over 100 million subscribers), they better figure this one out sooner rather than later to maintain investors' interest.