Apr 16, 2019

Netflix warns price rises to hit subscriber growth

Netflix expects subscriber growth to slow in the second quarter as the film and TV streaming firm continues to roll out price rises. Eric Haggstrom, forecasting analyst at eMarketer, said the revenues generated by the price increases will help Netflix differentiate itself in an increasingly crowded industry. Netflix said it is "Excited to compete" with its new rivals, adding: "We don't anticipate that these new entrants will materially affect our growth." Netflix said that for the first three months of the year, profits rose to $344m compared to the same period last year, with sales up 22% to $4.5bn. While total revenue is expected to increase to $4.9bn in the second quarter, income growth is forecast to slow to $249m. Netflix said it is looking forward to a "Strong slate of global content" in the second half of the year including the third series of The Crown, this time starring Oscar-winner Olivia Coleman as Queen Elizabeth II and Stranger Things.

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