Netflix is generating fewer new subscribers than expected. Revenue is in line with expectations

Netflix reported fewer subscribers than expected for the fourth quarter of 2021, highlighting the video streaming platform’s difficulties in attracting new users as pandemic restrictions ease and competition intensifies. The company said it added 8.28 million subscribers in the three months ended Dec. 31. Analysts, on average, expected additions of 8.39 million. The company’s stock is down 10% in aftermarket trading. The big batch of subscribers from the epidemic is starting to wane: people are tired of breeding in their homes, and people in many parts of the world are returning to the cinema.

super hero movie Spider-Man: There’s no going back, which hit theaters in mid-December, became the first pandemic-era film to surpass $1 billion at the global box office. Netflix also faces particularly wealthy rivals in the battle for subscriber streaming. The company said it added 8.28 million subscribers in the three months ended Dec. 31. Netflix reported fourth-quarter revenue of $7.71 billion, in line with estimates of $7.71 billion.