- The company’s share price has fallen by about 20 percent
- Series such as “The Crown”, “Stranger Things”, and “Bridgeton” were successful in the first quarter.
- The squid game from the South Korean series helped Netflix in the third quarter.
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The company, the world’s largest streaming service, reported better-than-expected earnings, including from Wall Street analysts. At the same time, investors were deterred by the fact that subscription numbers did not rise as expected.
Netflix added 8.3 million subscribers in its first quarter through series such as “The Crown”, “Stranger Things” and “Bridgeton”. At the same time, it is reported to be less than 8.5 million subscribers.
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However, it was the South Korean series squid game that helped Netflix in the third quarter. The unexpected success of this web series even miscalculated the growth of the company’s subscribers.
Kovid’s waves have hit Netflix in a similar way. According to the New York Post, the financial crisis caused by Kovid in various parts of the world, including Latin American countries, has hit back.
However, Netflix suffered setbacks in countries including the US and Canada. The subscription amount has been increased. With this, Netflix has lost 222 million subscribers globally.
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“Even in a world of uncertainty and increasing competition, we are optimistic about our long-term growth potential as a streaming of entertainment around the world,” the official said.