About This Source - CNBC Television
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CNBC Television published this video item, entitled “Netflix will spend $17B+ on content in 2021 amid subscriber slowdown” – below is their description.
CNBC’s “TechCheck” team discusses Netflix earnings and the company’s push for subscriber growth. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Investopedia defines a “correction” as a “decline of 10% or greater in the price of a security, asset, or a financial market.”
This was Netflix’s correction quarter.
Shares slumped more than 10% after hours after Netflix announced it had added just under 4 million subscribers in the first quarter — missing the company’s forecast of 6 million. Netflix also said it expected a mere 1 million paid net additions for the second quarter. To put that in perspective, Netflix added 10 million subscribers in last year’s second quarter.
Netflix benefited from a surge of demand for its streaming service in the first six months of the pandemic, adding nearly 26 million subscribers in the first six months of 2020. The company didn’t see those gains coming at the time, and now it underestimated the pullback as the pandemic appears to be winding down.
Still, there’s room for long-term Netflix bulls to remain optimistic. The company says it expects subscriber growth to reaccelerate in the second half of 2021 as a backlog of new shows and movies become available that were delayed amid pandemic shutdowns. Further, average revenue per user continues to climb in all regions of the world. The average user in the U.S. and Canada now pays $14.25 per month for Netflix, up about 9% from a year ago.
Forecasting just 1 million new subscribers for next quarter may be a purposefully conservative guidance as Netflix, along with the rest of the world, readjusts to post-pandemic life.
International growth and APRU gains will likely be what drive Netflix shares even higher if the company can deliver.
This quarter brought Netflix’s pandemic surge back to earth. If the theme of the second half of the year is a return to reality, that’s probably good news for Netflix. Reality has been quite kind to Co-CEO Reed Hastings’ company.
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In This Story: Canada
Canada is a country in the northern part of North America. It extends from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres (3.85 million square miles), making it the world’s second-largest country by total area.
Its southern and western border with the United States, stretching 8,891 kilometres (5,525 mi), is the world’s longest bi-national land border. Canada’s capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver.
Various Indigenous peoples inhabited what is now Canada for thousands of years before European colonization. The Canada Act 1982, which severed the vestiges of legal dependence on the British Parliament. Canada is a parliamentary democracy and a constitutional monarchy in the Westminster tradition, with a monarch and a prime minister who serves as the chair of the Cabinet and head of government.
As a highly developed country, Canada has the seventeenth-highest nominal per-capita income globally as well as the thirteenth-highest ranking in the Human Development Index. Its advanced economy is the tenth-largest in the world, relying chiefly upon its abundant natural resources and well-developed international trade networks.
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In This Story: Netflix
Netflix, Inc. (NASDAQ: NFLX) is an American technology and media services provider and production company headquartered in Los Gatos, California. Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California.