News
Why has Netflix lost almost half a million subscribers in its top location?
Netflix has lost more than 400,000 subscribers in the United States and Canada alone
Netflix blames Covid-19 for the slump
In a letter to shareholders, the company says it added just over 1.5 million subscribers in the second quarter of 2021, which is up from its forecast of 1 million.
But, by comparison, Netflix added 4 million new subscribers in the first quarter of this year, which was significantly down from its prediction of 6 million.
The Asia-Pacific region is carrying subscriber growth for the company at the moment, accounting for two-thirds of new memberships in the second quarter.
Netflix also says the lower number of new subscribers can be partially attributed to higher numbers last year resulting from pandemic lockdowns.
The streaming giant is anticipating numbers to jump back up in the third quarter of 2021.
This all follows numerous other streaming-based companies seeking to merge in a bid to take on Netflix.
Streaming is here to stay – and grow… and grow
WarnerMedia and Discovery have announced plans to merge, with Amazon also purchasing MGM for more than $8 billion.
U.S Tech insider Pavlina Oska told ticker earlier that streaming wars between the major players will continue to heat up
News
Trump calls for Iran’s surrender
Israel and Iran escalate conflicts with missile strikes, prompting Netanyahu’s airstrikes and Trump’s call for Iran’s surrender.
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Israel strikes Iran’s nuclear sites after hospital hit
Israel’s airstrikes on Iranian nuclear sites escalate tensions after a missile attack on an Israeli hospital, prompting Iranian retaliation and casualties on both sides.
Money
Fed signals slower cuts amid rising risks
U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.
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