Will superheroes knock Netflix off its perch or will it kick them to the kerb?

The service is facing huge competition, not least from Disney+, but is this just a glitch in its trajectory?

22 July 2021 - 20:24 By Tara Lachapelle

It’s not what Netflix shareholders wanted to hear: the online video service lost 430,000 subscribers in the US and Canada last quarter as life began to return to normal in that region. But as for the knee-jerk fear that these are signs of Netflix finally beginning to cave to competition? Not even close. 

Shares in the company toggled between gains and losses after a recent earnings report, a reflection of the subscriber base shrinkage in North America and a tepid forecast for the third quarter. After adding an astonishing 37 million subscribers globally last year while the world lived under quarantine, investors are finally understanding what Netflix executives meant when they said pace simply wouldn’t — couldn’t — last. It projects just 3.5 million new users globally in this period, after signing up 1.5 million in the second quarter...

This article is free to read if you register or sign in.

If you have already registered or subscribed, please sign in to continue.

Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.