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| Netflix is seeing a slowdown in new subscriptions |
After a year of production delays, Netflix's performance has slowed, causing the number of new Netflix subscribers to slow down.
Netflix currently has 208 million users worldwide, up from 204 million in the previous quarter.
This is a significant slowdown in Netflix's rapid growth in the number of new subscribers, which has quadrupled over the same period in 2020.
The number of subscribers is also lower than the number that Netflix hopes to increase, as the company estimates that it may reach 210 million subscribers by the end of the first quarter, but it is much less than 2 million.
The result was published in a Netflix income statement for the first quarter of 2021, and Netflix has tried to explain why it believes growth has slowed so much.
The root of the problem is the pandemic, Netflix said, as the pandemic speeded up subscriptions at this time last year when everyone was trapped at home in search of something to watch.
The pandemic also delayed production of shows and movies, leading Netflix to rank it as an easier content list for the first half of 2021.
Netflix is expected to add only 1 million subscribers and will continue to grow slowly over the next quarter. Another 10 million subscribers were added in the second quarter of last year.
Netflix announced that the situation will change later this year, and aggressive programming, including the return of "The Witcher" and the premieres of some major stars, should help attract more people to use the service.
If Netflix is going to grow at the pace of recent years, it should run faster.
Netflix's growth rate from 2017 to 2019 is lower than usual.
With HBO Max and Disney Plus continuing to release blockbuster titles on a regular basis, Netflix is not only facing the limits of the pandemic, it faces increasingly fierce competition.
Netflix said that thanks to Bridgerton, Lupine, and Cobra Kai, a quarter of companies have performed well but don't appear to have been successful enough to keep up with previous growth.
Although subscriber access has slowed, Netflix's net profit continues to grow. In the first quarter alone, net income rose to $ 1.7 billion, and net income for 2019 rose to about $ 1.87 billion.
According to platform data, "Barbed Wire" is one of the biggest movies this quarter with 66 million viewers, while other major brands such as To All The Boys I Loved Before, have box office sales of 51 million.