“Netflix has a difficult road ahead, with looming competition and the removal of popular content,” says EMarketer analyst Eric Haggstrom. But a stronger lineup of new shows in the current quarter could help attract former subscribers, he says.
(July 22): Netflix shocked investors by reporting a drop in US customers and much slower growth overseas, raising fears that the streaming giant is losing momentum just as competitors prepare to pounce.
The shares plunged 11% to about US$323 in pre-market US trading after Netflix reported the loss of 130,000 customers in the US — the result of higher prices and a weak slate of TV shows. It signed up 2.8 million subscribers internationally in the period, roughly half what the company predicted.
