Netflix misses the mark
One company that benefited big from 2020 was Netflix, which passed the 200 million subscriber mark for the first time last year. But now as many of us are out and about, the lack of lockdowns has been a serious letdown for shareholders (say that ten times fast), with the streamer’s shares falling 11%. About 3.98 million people signed up for Netflix between January and March this year, well short of the projected 6 million. The reason? Besides the fact we’re spending less time on our couches, the global pandemic has caused more production delays, which means fewer new shows. Netflix said things will get better over the 2nd half as new seasons and films are released. But they’ve downgraded growth predictions, and the staggering number of alternate streaming options won’t help.
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