Netflix faces a US slowdown as it chases global growth
It adds a record 5.59 million streaming members globally in Q4 while profit slid 48% to US$43.2 million
New York
THE fourth-quarter results from Netflix paint two different pictures of the company: one achieving record global growth, the other facing a slowdown in the United States, where its already high penetration is making it increasingly difficult to add new subscribers.
The company announced on Tuesday that it had topped expectations in adding a record 5.59 million total streaming members during the quarter, for a total 74.76 million across the globe. The success of the original series Narcos and Marvel's Jessica Jones helped to fuel growth. Netflix said that it expected to add 6.1 million members during the current quarter.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Shein steps up London IPO preparations amid US hurdles to listing, sources say
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
New weight-loss, diabetes drugs reach one in eight Americans
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife says private placement is to address urgent cash needs
Cordlife substantial shareholders lay out separate plans to address issues after AGM