Netflix subscribers

Netflix Shares Plummet as End of Coronavirus Lockdowns Spells Weak Subscriber Growth

Netflix shares plummeted late Tuesday and into Wednesday as the streaming entertainment giant warned of weaker-than-expected subscriber growth in the months ahead. The slowdown comes as Netflix faces the end of coronavirus lockdowns, which had previously boosted the company’s subscriber base as people trapped at home sought online entertainment.

Co-founder and director of Netflix Reed Hastings delivers a speech as he inaugurates the new offices of Netflix France, in Paris on January 17, 2020. - Hastings announced some 20 French projects by Netflix on January 17, 2020. (Photo by Christophe ARCHAMBAULT / AFP) (Photo by CHRISTOPHE ARCHAMBAULT/AFP via Getty …

Netflix Reports Disastrous Second Quarter as Subscriptions Fall Short

Far-left Netflix had a disastrous second quarter that saw new subscriptions fall short of expectations, causing shares of the streaming entertainment company to plummet by as much as 12 percent in after-hours trading on Thursday. The company cited growing competition from TikTok, the Chinese-owned video app that is hugely popular with Gen Z.

MEXICO CITY, MEXICO - SEPTEMBER 12: Reed Hastings, CEO of Netflix, attends a press conference to announce the Netflix service in Mexico at the St. Regis Hotel on September 12, 2011 in Mexico City, Mexico. (Photo by Hector Vivas/Latin Content/Getty Images)

Netflix Misses Subscriber Mark for Second Straight Quarter

Netflix saw disappointing domestic subscriber growth for the third quarter, signaling rougher waters ahead as the streaming giant braces itself for competition from the Walt Disney Company and Apple. This is the second straight quarter in which Netflix has missed its subscriber growth projections.

BOGOTA, COLOMBIA - OCTOBER 09: Netflix CEO Reed Hastings speaks during Netflix Slate Event 2018 at JW Marriot on October 9, 2018 in Bogota, Colombia. (Photo by Daniel Muñoz/Getty Images for NETFLIX)