The firm added 8.3 million customers from October to December, when it launched new programming that included star-studded movies like “Red Notice” and “Don’t Look Up” and a new season of “The Witcher.” Industry analysts had expected Netflix to add 8.4 million, according to Refinitiv IBES data.
Last week, Netflix raised prices in its biggest market, the United States and Canada, where growth is stagnant, analysts say, and is now looking to expand abroad.
The company rode on a rollercoaster ride during the pandemic, with strong growth in early 2020 as people stayed home and movie theaters were closed, followed by a slowdown in 2021.
Netflix captured more than 36 million customers in 2020 and 18.2 million in 2021. In 2022, Netflix subscriber growth is expected to level off and return to its pre-pandemic pace, according to analysts.
The company’s upcoming lineup includes new installments of “Ozark,” “Bridgerton” and “Stranger Things” and a three-part Kanye West documentary.
But its competitors, such as Walt Disney and HBO Max, are pouring billions into creating new shows to grab a piece of the streaming market.
It is also worth noting that technology companies are being affected by the signals that the US central bank is giving regarding a tightening of its monetary policy, which would include four or five rate hikes in 2022.
In that framework, Wall Street’s Nasdaq index plunged 7.6% in the week, its worst mark since the “coronacrash” of March 2020.
Source From: Ambito
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