Netflix: Streaming giant Netflix , responsible for popularizing on-demand video content in the global market — and for the demise of many video stores — has been suffering from a loss of viewership in 2021. period, in the second financial quarter of the year, the platform suffered the loss of nearly half a million subscribers in the United States and Canada alone.
Netflix is recognized as an innovation leader, creator of a technology that has revolutionized the way people have access to movies, television and, soon, even video games. Although it initially reigned supreme, more and more new streaming platforms threaten the giant’s dominance — see the recent launch of HBO Max in Brazil.
With the Covid-19 pandemic and the lockdowns, Netflix has had considerable success — including experiencing slow service due to the number of simultaneous accesses. At the same time, however, companies like Disney and Amazon have made great strides in the market. With so much competition, it’s hard to say how long Netflix will continue to lead.
Netflix and the financial market
According to Markets Insider, the giant’s latest P&L analysis for the second financial quarter shows that the company has lost 0.43 million subscribers in the US and Canada alone. In a letter to investors, Netflix considered the losses as a result of the pandemic and gave assurances that the problem is being resolved.
Read Netflix’s statement:
“We ended the quarter with more than 209 million paid subscriptions, a little above our projection. The pandemic created some problems in our membership growth (highest growth in 2020, slower growth this year), which is advancing.”
Even with the setback, Netflix remains on the rise: the service’s original subscriber estimates were surpassed in the second quarter, with new 1.54 million subscribers, after the estimate of 1 million for the period. Netflix predicts an additional 3.5 million new subscribers for its third quarter.”