Industry News

A mixed Q2 earnings report hurls Netflix into a new future

21 July, 2021

It’s been two years since new Stranger Things episodes aired and 18 months since The Witcher‘s debut season premiered. With the COVID pandemic no longer forcing consumers indoors for months at a time, monster sleeper hits such as Tiger King have been hard to come by. Bridgerton was a grand slam that capped off a banner year, sure. But the explosive growth of 2020 was a double edged sword, and Netflix is on the wrong end of the tip at the moment.

Netflix is still the global leader in the SVOD space, but its lack of new hit original programming and the increased competition from rival streamers is squeezing the company’s subscriber growth and engagement. The “pull forward” effect of the pandemic has left the company in a state of malaise this year.

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