Netflix's shows didn't pull in as many new customers as expected

Netflix is spending billions of dollars on new shows and movies this year, with an expectation that this will add to its subscriber base. Unfortunately, over the the last three months that plan didn't work quite as well as it had predicted. In April the company notched 125 million subscribers, and predicted it would add 6.2 million more. Today it announced numbers (PDF) that CEO Reed Hastings called "strong but not stellar" growing by a hardly-shabby 5.15 million customers worldwide with about 670,000 of in the US compared to the 1.2 million it anticipated.

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Source: Netflix Q2 2018 Earnings Letter (PDF)



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