/ 22 July 2021

Covid makes things lumpy

Australia’s retail sector took a hit in June after Melbourne and Sydney shut up shop. In June, sales fell 1.8% compared to May – the biggest drop this year. And with 13 million Aussies now in lockdown across NSW, Victoria and South Oz, economists say July’s retail figures will suck. But Aussie retailers aren’t the only ones feeling the pandemic pinch… Streaming giant Netflix yesterday revealed its worst subscriber growth figures in 8 years as much of the world emerges from lockdown. The company says it added 5.5 million subscribers through the first 6 months of this year – its weakest first-half performance since 2013. But it’s hoping to lure some new subscribers by adding free video games to the streaming platform, as well as continuing to focus on producing its own content.

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