Netflix adds new 10 million subscribers but warns growth will slow down

Netflix adds new 10 million subscribers but warns growth will slow down

Netflix just reported 10 million new subscribers over the second quarter of 2020. But the streaming service also warned growth will slow down in the second half.

They’re going continue to grown with new subscribers at the beginning of this year. According to BBC, the streaming platform added more than 10 million subscribers in the three months to July. That’s also getting a total of new subscribers to 26 million in 2020. However, Netflix already adds 28 million new subscribers for the of 2019.  But the few thoughts from shareholders, “Growth is slowing as consumers get through the initial shock of coronavirus and social restrictions.”

What’re the total new Netflix subscribers for 2020?

According to reports from Netflix shared that it added 26 million paid new subscribers in the first two quarters of 2020 alone; in 2019, the company added 28 million subscribers in total. The company’s revenue grew 25 percent year over year but missed its revenue goals for the quarter. For this report, the first two quarters are something the company is proud of, but executives still warning shareholders and investors about what’s happens. Netflix is anticipating adding 2.5 million subscribers in its third quarter, down from 6.8 million in last year’s same quarter.

 Also, added: 

“As a result, we expect less growth for the second half of 2020 compared to the prior year. As we navigate these turbulent circumstances, we’re focused on our members by continuing to improve the quality of our service and bringing new films and shows to people’s screens.”

However, they share their thoughts about next year: 

“For 2021, based on our current plan, we expect the paused productions will lead to a more second-half weighted content slate in terms of our big titles. Although we anticipate the total number of originals for the full year will still be higher than in 2020. “

We can wait for more visitors this year. But after the pandemic, the Netflix subscribers’ growth slows down a little bit.

Leave a Reply

Your email address will not be published. Required fields are marked *