In its earnings report yesterday, Netflix acknowledged the obvious: Things have gone downhill since episode 6 of Bridgerton. The streaming company added just 4 million new subscribers last quarter, lower than its estimate of 6 million and way down from the 16 million it gained in Q1 last year.
Of course, last year was special: In prime position to benefit from pandemic lockdowns, Netflix managed to increase its subscriber base to 204 million and bump up the price on its standard streaming plan by $1 and its premium tier by $2.
That might explain why revenue figures last quarter slightly topped expectations, despite the subscriber slowdown.
Visit Morning Brew to read this article.
