A fatal blow or momentary blip? Whatever it is, Netflix took a big hit this week. On Thursday, the global streaming leader shocked with its worst fall in quarterly new subscriber numbers and an unexpected and significant shortfall on its own forecasts for the June quarter.
Netflix told the market that it had lost 126,000 US domestic paid subscribers, versus an expected gain of about 310,000 in the three months to June. That’s a turnaround of nearly half a million in the US. International subscriber numbers picked up 2.8 million, well below the forecast 4.7 million.