A 14% increase in its subscribers worldwide, to 208 million, a jump of 24% in its turnover, to 7 billion dollars, and yet, Netflix is ​​a little the head at the end of this first quarter 2021 and the title even loses 10% on the stock market.

Why ?

The video streaming giant had promised investors 210 million paying subscribers.

The turnover, and its net profit of 1.7 billion, are above expectations, without this seeming to compensate for the slowdown in its growth.

A breakthrough in 2020 linked to Covid

“We believe that the growth of our paid subscriber base has slowed due to the 2020 breakthrough related to Covid-19 and also because of a smaller content offering in the first half of this year, due to delays production due to the pandemic, the California group said in a statement.

We ended 2020 with more subscribers and revenue than we would have had without the health crisis.


The platform expects only one million additional subscribers during the current quarter, against 10 million last year at the same period, but hopes for a new impetus from the summer, in particular thanks to the return of very popular series. like

Sex Education


La Casa de Papel

in the second semester.

Disney +, Hulu and HBO Max are gaining ground

"Netflix has rallied only a small number of new subscribers and expects even less by the next results," says Eric Haggstrom, analyst at eMarketer. This is a source of concern because Disney +, Hulu, HBO Max and others are catching up with them in terms of US subscribers. This means that Netflix is ​​arguably close to saturation in the United States, its biggest market. "

This refresh "shows that the world is getting back to normal a bit, at the expense of Netflix," tweeted Gene Munster of the Loup Ventures investment fund.

In the long term, he envisions “almost flat” growth for the pioneer of the sector.

Disney + reached nearly 95 million subscribers in February.

The platform has greatly benefited from containment measures, the huge catalog of the Californian group and low prices compared to competitors.


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