Netflix growth slows down

Numbers are falling

In the first three months of the year Netflix has seen a growth slowdown.

The firm had predicted that it would see a growth of 5.2 million subscribers in this quarter, however the streaming firm only managed to gain 4.95 million.

In the US Netflix saw a third fewer new subscribers than the same period a year ago, as well as this overseas members managed to fall by 22 per cent.

Netflix spoke about how this fall could be blamed on the fact that it’s made the decision to move some of its most popular shows to the second quarter of the year.

The firm said the main reason for the lower than expected growth was the fact that its House of Cards series which last year debuted in the first quarter has been moved to the second quarter this year.

Netflix still believes it will add 8.15 million new members in the first half of this year, this is just below the 8.42 which it added in the same period of last year.

Chief executive, Reed Hastings, said: “We have come to see these quarterly variances as mostly noise in the long-term growth trend and adoption of internet TV.”

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