Industry News

Netflix may still be reeling from COVID-19’s pull forward effect

19 July, 2021

Oh Netflix, why can’t I quit thee? Just when I think the company’s drama has jumped the shark, some new fascinating wrinkle recaptures my interest and intrigue. It’s difficult not to be enamored with the ups, downs and rapid swings of the market-leading streaming service.

For example, Netflix notched a record year in 2020 by adding 37 million new subscribers. Yet the streamer concluded Q1 2021 with 208 million paid memberships worldwide, which marked a 14% increase year-over-year yet still fell below the company’s internal projections of 2010 million new subs. So what can we expect from Netflix’s Q2 earnings report arriving Tuesday, July 20?

“Our data indicates that the second quarter was a challenging one for Netflix, as the streaming giant laps the strong growth experienced during the pandemic,” Ed Lavery, Director of Investor Intelligence at SimilarWeb, told Observer. “We see a significant decline in YoY growth for unique visitors.”

Visit Observer to read this article.

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