Can Netflix be redeemed!?
Let’s face it… Netflix didn’t produce last quarter – and they got crushed because of it. In case you forgot, Netflix reported 1 million fewer subscribers than expected in the second quarter. However, the company did manage to add 5.2 million subscribers in total. But that wasn’t enough for investors and the stock plummeted.
The stock is still down… 20% compared to before the “bad” subscriber growth results. But now, Netflix can make amends with investors upon third quarter earnings which will be released today. Analysts are expecting just under 5 million new subscribers – but most of those subscribers are expected to come from outside the United States. And for Netflix, having a global audience would be huge.
The results better be good… because streaming media is gaining new competitors by the second! Hulu, Amazon, AT&T, Walmart, and Disney all have streaming services one way or another. This influx of competition means that Netflix better keep coming with original content – and with great original content comes great subscribers…