Netflix: Why our subscriber growth rates were disappointing.

House of Cards (Source: Netflix/IMDB)

This wasn’t Netflix’s (NFLX) quarter for subscriber growth, but the popular streaming service doesn’t appear overly worried.

“The thing is, everybody watches TV, and nearly everybody has the Internet,” Netflix CEO Reed Hastings said during the company’s first-quarter 2017 earnings webcast. “I don’t see anything that’s going to stop Netflix from getting to most people in the United States and then eventually, hopefully, most people around the world.”

For the earnings quarter that ended March 31, Netflix added just 5 million members in total: 1.42 million subscribers in the US and 3.53 million subscribers internationally, both of which missed analysts’ estimates.

Netflix management chalked up the subscriber growth miss in part to the delay of popular original content.

“Quarter to quarter you’ll see some fluctuations, and some of that is due to the content slate,” said David Wells, Netflix’s chief financial officer.



By JP Mangalindan.
Full story at Yahoo News.