Netflix Misses Forecast for Q4 U.S. Subscriber Growth, Gains in International Markets
Netflix fell short in its forecast for Q4 subscriber growth in the U.S. amid new competition from Disney and Apple streaming services.
Netflix added 423,000 domestic subscribers in Q4. In October, Netflix forecast an increase of 600,000 subscribers in the U.S. for the latest period. The shortfall in the U.S. was offset by an an increase of 8.3 million subscribers in international markets, more than the seven million the company was expecting. It ended the quarter with 167.1 million subscribers, including 61 million in the U.S., up 5% from Q3.
Netflix reported a fourth-quarter profit of $586.9 million. Revenue rose 31% to $5.47 billion. New content the company premiered during the quarter included “The Irishman” and “Marriage Story.” Each film received multiple Oscar nomination. In addition to Disney and Apple, NBCUniversal’s Peacock and WarnerMedia’s HBO Max streaming services launch in the spring.
