The activity report for the second quarter of 2021 published by Netflix showed that the streaming giant had recorded over this period the arrival of 1.5 million new subscribers in the world.
The results nevertheless show that the pace of this progression is slowing down.
The company had anticipated the phenomenon and had said it expected an increase in the number of its customers of the order of 1 million, reports
Variety
.
Netflix had also estimated that the number of its subscribers in Canada and the United States would remain "more or less the same".
However, the platform deplored the loss of 430,000 paying customers in this region of the world that is capital for its activity.
"We believe that our large pool of clients combined with a traditionally less active quarter in acquisitions is the main reason" for the North American situation, the company said in a message to its shareholders.
3.5 million new subscribers expected in the next quarter
Executives referred to other big names in the industry, like “YouTube, Epic Games and TikTok, to name a few”. Netflix explained that “in the race to entertain consumers around the world, we still compete with many, many companies for screen time. […] But we are our main rival in improving our service as quickly as possible ”.
The results reported by Netflix resulted in a 0.2% drop in the company's share price.
The latter said it had garnered revenues of 7.34 billion dollars (6.2 billion euros) during the second quarter of 2021, an increase of 19.4% compared to the same period in 2020. The platform claims a total of nearly 210 million paying subscribers worldwide and expects to welcome 3.5 million more in the next quarter.
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