Netflix has disappointing subscriber growth due to increased competition – IT Pro – News

Netflix received fewer new subscribers in the fourth quarter than the company expected. For the first quarter of 2022, Netflix expects to add 2.5 million customers, a drop of 37 percent compared to the same quarter last year

Netflix got one in the fourth quarter of 2021 8.2 million customers at worldwide. That’s not only less than the 8.5 million the company expected, but also less than the 8.5 million subscribers Netflix received in the fourth quarter of 2020. In 2021, Netflix added 18 million subscribers. That was 37 million in 2020, but that growth figure is due to the consequences of the corona pandemic.

In the emea region, which includes Europe, Netflix gained 3.5 million customers, down from 4.5 million a year earlier, but the region still accounted for most of the global growth. For the first quarter of 2022, Netflix expects 2.5 million new subscribers, compared to 4 million a year ago. The company considers that few major releases are in the pipeline, in addition to macroeconomic headwinds in some parts of the world.

The company also points to increased competition in the past 24 months as the reason for the disappointing growth. Still, the company sees plenty of growth opportunities, with the company citing that streaming in the US is still responsible for only 10 percent of TV screen time. The US is the largest market for Netflix.

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