Published: Wed, April 17, 2019
Culture&Arts | By Dora Pope

Guidance causes stock to sink despite beat — Netflix earnings

Guidance causes stock to sink despite beat — Netflix earnings

"Netflix now knows what people want more than anybody", he said.

The cooler outlook comes as the company faces increasing pressure from rival streaming services that are being launched by Disney and Apple.

Netflix added 9.6 million subscribers this past quarter, exceeding Wall Street expectations of 8.94 million.

Disney stressed plans to use its coveted content, and original creations to come, to differentiate itself in the increasingly competitive streaming television market.

Eric Haggstrom, forecasting analyst at eMarketer, said the revenues generated by the price increases will help Netflix differentiate itself in an increasingly crowded industry.

The fact that Netflix is still growing is all the more impressive, considering the company says it's continuing to work through a series of price hikes in the US, Brazil, Mexico and parts of Europe.

Streaming giant Netflix posted a bumper set of figures last night - but warned fewer new subscribers will sign up in the coming months. On Tuesday, the online streaming provider will get its first chance to respond to the new threat on its first-quarter conference call.

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But competition is mounting.

The service will offer Disney's films and TV shows, including Marvel Studios' superhero films and "Star Wars" franchise, along with the products it acquired from Rupert Murdoch's 21st Century Fox. The move consolidates Disney's control of Hulu and comes as AT&T is planning its own Warner streaming service. Netflix fell nearly 4 percent last week when Disney gave its presentation on the service. And it means that consumers stay captive within the Netflix walled garden for significant amounts of time. Its streaming service has grown at the same time that competitors HBO and Showtime have added customers.

Mobile for subscriber growth worldwide: Further, Netflix is also positive that mobile is increasingly a sound strategy to grow its subscriber base worldwide.

The company has produced a number of critically acclaimed films and series including The Crown and the Oscar-nominated Roma.

While Netflix declines to gives country-by-country specifics, Western Europe and Latin America have supplied most of its recent growth.

Netflix said its investments in India are beginning to bear fruit as well.

But Netflix executives recognize their growth is limited by the high pricing. The Marvel shows on Disney+, however, will be overseen by Feige himself, and will be "major storylines set in the MCU with ramifications that will be felt both through the other Disney+ series we'll be producing and the future on the big screen", according to the MCU architect.

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