NEFLIX WORRIES AS SUBSCRIBERS SINK IN NUMBER

NEFLIX WORRIES AS SUBSCRIBERS SINK IN NUMBER

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NEFLIX WORRIES AS SUBSCRIBERS SINK IN NUMBER

– Netflix Shares Sink on Worries about Subscriber Population

NEFLIX WORRIES AS SUBSCRIBERS SINK IN NUMBER
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NEFLIX WORRIES AS SUBSCRIBERS SINK IN NUMBER

Netflix shares fell more than 9% in after-hours trading on Wall Street after the video streaming company predicted slower subscriber growth.

According to the company, it expected to have an addition of about 500,000 customers in the United States and two million on an international scale during the current trading quarter that should end in June.

However, analysts had forecast the company to get more 586,000 users in the US and 3.5 million globally. NEFLIX WORRIES AS SUBSCRIBERS SINK IN NUMBER

Netflix commenced a global push into 130 additional countries, in January.

Information gathered that the company already anticipated to combat slowing growth of users in the US where the market is more developed.

Netflix posted a profit of $28m (£19.6m) for the period between January and March, up from $24m during the same time a year before.

It is hoped by the company that a subscription revenue with a new pricing system in the US is raised.

“We are rolling this out slowly over the year, rather than mostly in May, so we can learn as we go.” The company said in a statement.

The new system will charge $7.99 per month to use Netflix on one device, $9.99 for two-screen usage, or $11.99 for four.

NEFLIX WORRIES AS SUBSCRIBERS SINK IN NUMBER

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