The streaming giant fell 33% short of its first quarter subscriber goal on Tuesday
Is Netflix starting to feel the heat from its new group of streaming competitors? While the runaway leader in streaming still holds a massive lead over its newer rivals, Netflix saw its growth slow enough in the first quarter to not only miss estimates, but offer only tepid forecasts for next quarter.
The streaming giant on Tuesday reported that it added 2 million fewer subscribers than it expected in the first three months of 2021. Netflix added 4 million accounts globally in Q1, bringing the company to 207.6 million subscriptions overall. That came in below the 6 million new accounts that Netflix — and Wall Street analysts — had projected.