Netflix Inc. stock price has dropped 10% since yesterday as the video-streaming service sees a decline in new paid subscriptions. The possible cause could be the increasing competition in the industry.
In recent news, Netflix Inc. stock price saw a plunge of 10% as the company's expectations of new subscribers didn't meet the predictions. In the second quarter of 2019, Netflix reported the addition of just 2.7 million paid subscriptions. That is almost a half less what the Wall-Street and the company itself predicted. They were looking for 5.3 million new subscriptions. With 350,000 on domestic grounds and 4.8 million internationally.
Netflix sent out a letter to all shareholders explaining that pricing increase began rolling out earlier this year, but they consider that this is not the main factor which drove the stock price decline. They believe that the lack of original content could be the main cause.
Read more: https://www.coinspeaker.com/netflix-nflx-stock-decline-subscribers/
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