Industry News

Netflix misses growth and earnings outlook for Q2 2021

19 July, 2021

Streaming giant Netflix added only 1.54 million new subscribers during the second quarter of 2021, coming in well below what Wall Street analysts had expected, according to the company’s Q2 financial report on Tuesday afternoon. Overall, Netflix now has 209.18 million subscribers globally. The 1.54 million new subscribers set far from the 12 million new subscribers the company added during the same time frame last year when Netflix was adding customers at a record rate due largely to the COVID-19 pandemic. Netflix also reported $7.34 billion in Q2 revenue, matching what analysts had projected, while its $2.97 earnings per share came in about 20 cents below Wall Street’s goal for the company.

“The pandemic has created unusual choppiness in our growth and distorts year-over-year comparisons as acquisition and engagement per member household spiked in the early months of COVID,” Netflix said in its letter to shareholders. “In Q2’21, our engagement per member household was, as expected, down vs. those unprecedented levels but was still up 17% compared with a more comparable Q2’19. If we achieve our forecast, we will have added more than 54 million paid net adds over the past 24 months or 27 million on an annualized basis over that time period, which is consistent with our pre-COVID annual rate of net additions".

Visit Senal News to read this article.

Other insights you may enjoy


Demand360 Lite screenshot

DEMAND360LITE

Gain unprecedented access to market-specific TV series demand data and consolidated insights on global industry trends

Earth

Rank 15,000+ TV shows in 46 markets across all platforms.

Analytics chart

Discover consolidated insights on global television trends.

Strategy board

Exclusive analyses on global , regional and local content and audience trends.

The Global Television Demand Report 2021

  • Truly understand the global SVOD originals landscape
  • Comprehensive platform market share benchmarks
  • Released each quarter covering 10 global markets
  • Get exclusive access to our comprehensive reports
  • Available for FREE with a DEMAND360LITE subscription