Groups Similar Look up By Text Browse About



Similar articles
Article Id Title Prob Score Similar Compare
212146 ARSTECHNICA 2021-7-21:
Netflix bleeds subscribers in US and Canada, with no sign of recovery
1.000 Find similar Compare side-by-side
212338 ZDNET 2021-7-20:
Netflix Q3 subscriber view misses Wall Street expectations, says will add video games
0.688 0.625 Find similar Compare side-by-side
212197 THEVERGE 2021-7-20:
Netflix’s gaming expansion starts with mobile
0.010 0.420 Find similar Compare side-by-side
212339 ZDNET 2021-7-20:
Qualtrics Q2 surprise profit blows away expectations, forecast higher as well
0.378 Find similar Compare side-by-side
212606 ZDNET 2021-7-21:
Netgear misses Q2 expectations, cites supply chain constraints
0.363 Find similar Compare side-by-side
212647 ZDNET 2021-7-22:
Snap soars as Q2 revenue and subscribers beat expectations, delivers surprise profit
0.348 Find similar Compare side-by-side
212646 ZDNET 2021-7-22:
Verisign posts Q2 results in line with expectations
0.001 0.343 Find similar Compare side-by-side
212582 ZDNET 2021-7-22:
Twitter reports strong Q2 results with revenue climbing 74% from a year ago
0.341 Find similar Compare side-by-side
212578 VENTUREBEAT 2021-7-22:
Intel beats Q2 2021 estimates as revenues grow 2% to $18.5B
0.338 Find similar Compare side-by-side
212584 ZDNET 2021-7-22:
Intel Q2 strong amid PC, enterprise data center demand
0.335 Find similar Compare side-by-side
212623 ZDNET 2021-7-22:
Naver records its highest quarterly earnings ever during Q2
0.327 Find similar Compare side-by-side
212244 THEVERGE 2021-7-21:
Watch the latest teaser trailer for Netflix’s upcoming animated Witcher film
0.326 Find similar Compare side-by-side
212607 ZDNET 2021-7-21:
Texas Instruments reports Q2 revenue beat, outlook in line, shares sag
0.313 Find similar Compare side-by-side
212402 ZDNET 2021-7-19:
Zoom to pay $14.7 billion for Five9
0.312 Find similar Compare side-by-side
212462 ZDNET 2021-7-21:
SAP Q2 2021: Customer demand for RISE program bolsters cloud revenue
0.310 Find similar Compare side-by-side
212392 ZDNET 2021-7-19:
Rapid7 buys outside-the-perimeter security firm IntSights for $335 million
0.291 Find similar Compare side-by-side
212401 ZDNET 2021-7-19:
Capgemini to pay AU$230 million for Aussie IT services provider Empired
0.287 Find similar Compare side-by-side
212511 THEVERGE 2021-7-22:
Intel teases plan to speed up chip advancements
0.284 Find similar Compare side-by-side
212630 ZDNET 2021-7-22:
AT&T Q2 strong as 5G upgrade cycle bolsters revenue from device sales
0.283 Find similar Compare side-by-side
212162 ZDNET 2021-7-21:
Verizon Q2 strong amid 5G wireless gains
0.283 Find similar Compare side-by-side
212359 ZDNET 2021-7-20:
Palantir guns for startups, launches Palantir Foundry for Builders
0.278 Find similar Compare side-by-side
212416 ZDNET 2021-7-19:
Swedish man sentenced for gold-backed cryptocurrency scam
0.278 Find similar Compare side-by-side
212567 ZDNET 2021-7-23:
Taboola acquires Connexity for $800 million to expand its recommendations platform
0.277 Find similar Compare side-by-side
212372 VENTUREBEAT 2021-7-21:
Global VC Investment Skyrockets to $157.1 Billion in Q2’21, According to KPMG Private Enterprise Venture Pulse Report
0.273 Find similar Compare side-by-side
212636 ZDNET 2021-7-22:
What airlines are saying about the return of business travel
0.271 Find similar Compare side-by-side

1

ID: 212146

URL: https://arstechnica.com/gaming/2021/07/netflix-bleeds-subscribers-in-us-and-canada-with-no-sign-of-recovery/

Date: 2021-07-21

Netflix bleeds subscribers in US and Canada, with no sign of recovery

Streaming group issues disappointing forecasts for third-quarter customer growth. Netflix lost 430,000 subscribers in the US and Canada in the second quarter and issued weaker than expected forecasts for later in the year, rekindling investor doubts over how the streaming group will fare after the economic reopening. The California-based company predicted it would add 3.5 million subscribers in the third quarter, disappointing investors who were looking for a stronger rebound in the second half of the year. Analysts had forecast that Netflix would add 5.9 million subscribers during the third quarter. In the past year and a half, Disney, Apple, WarnerMedia, Comcast and others have launched streaming platforms, and there are more than 100 streaming services for consumers to choose from, according to data company Ampere. Yet on a call for investors, executives dismissed the idea that competition was behind the weaker figures. Does HBO or Disney... have a differential impact compared to the past? Were not seeing that in the [data] we have, said Reed Hastings, Netflix co-chief executive. That gives us comfort. Traditional media companies have spent the past few years consolidating in order to compete with Netflix. Most recently, Discovery agreed to merge with WarnerMedia to form a mega-streaming service. Referencing the industry consolidation, Ted Sarandos, co-chief executive, told investors: Lets see if one plus one equals three... versus the typical one plus one equals two. Intrigue over Netflixs plans to delve into video games helped offset the weakness in its core business, lifting the shares 0.8 percent in after-hours trading. Hastings framed video games as a complement to Netflixs existing business rather than a large new profit driver. Were a one-product company with a bunch of supporting elements. In total, Netflix added 1.5 million subscribers in the second quarter, just above Wall Street forecasts of 1.1 million. After adding a record number of customers last year, subscriber growth has slowed sharply as competitors entered the market and people emerged from coronavirus pandemic lockdowns. Sign-ups have ground to a halt in the US, Netflixs largest market, where the majority of COVID restrictions have been rolled back. The pandemic has created unusual choppiness in our growth, the companys management told shareholders. Netflix executives have blamed the subscriber number weakness on a lighter offering of shows and movies and promised that growth would pick up in the second half of 2021 with the return of titles such as The Witcher and Sex Education. COVID and its variants make predicting the future hard, but with productions largely running smoothly so far, were optimistic in our ability to deliver a strong second half [shows], the company said. Netflix remains by far the largest paid video streaming service, with 209 million subscribers, compared with 104 million for Disney Plus, its closest competitor. Revenues in the second quarter rose 19 percent from the same period last year to $7.3 billion, meeting analysts forecasts. Net income increased to $1.4 billion, up from $720 million a year ago. © 2021 The Financial Times Ltd. All rights reserved Not to be redistributed, copied, or modified in any way.