Jan 21, 2020

Netflix blames competition for weak US growth

The emergence of new competitors has started to dent Netflix's growth in the US. The streaming giant said it added just 420,000 subscribers there in the most recent quarter. Netflix finished 2019 with more than 167 million paying customers, ahead of Wall Street expectations. Netflix is contending with a raft of new competitors, as rivals like Disney, Apple and Comcast offer their own streaming services. Netflix said its growth overseas had been less affected by the launch of new rivals. Growth in Europe, the Middle East and Africa will fuel Netflix in coming months, said Paolo Pescatore, analyst at PP Insight, adding that the firm remains in a strong position.

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