![]() So there’s no real change that we can detect in the competitive environment. It’s always been very competitive with linear TV, too. “And we just can’t see any difference in our relative growth in those regions,” he said. “I mean, we’ve been competing with Amazon Prime for 13 years, with Hulu for 14 years. The company combed sign-up and consumption data from around the globe, comparing markets where its new rivals have debuted to those where they have not. But Hastings insisted Netflix research shows otherwise. “Of course we’re wondering, ‘Well, wait a second, are we sure it’s not competition?’ Because obviously there’s a lot,” he said. And what about the notion that Netflix’s newbie competitors are starting to steal its thunder? Founder and co-CEO Reed Hastings argued that’s not happening, at least not yet. What’s more, production lockdowns in 2020 messed up Netflix’s timetable for new and returning series launches, pushing back what might have been early 2021 debuts to later in the year. Neumann said the pandemic lockdowns at the start of 2020 artificially inflated growth last spring, making it tougher to grow this year. “It really boils down to COVID, frankly,” Netflix chief financial officer Spencer Neumann said on an investor videoconference. The company pushed back on that Tuesday, blaming its slowdown on the ’rona. But the instant narrative that seems to be setting in is that as rival streamers add more subscribers and better shows, Netflix is losing ground in the battle for audience attention, and that is having an effect on its ability to grow its subscriber rolls. Investors predictably - maybe even understandably - punished Netflix stock, sending the company’s share price down more than 7 percent the next day. ![]() Okay, to be fair, I actually didn’t see that much freaking out among media or Wall Street types. Commence the usual panic that Netflix has peaked, the streaming wars are getting bloody, and the new king of video is. Netflix issued its quarterly report card Tuesday, and by now you probably know the headline takeaway: The streamer added 4 million new global subscribers at the start of 2021, which is 2 million fewer than the 6 million it had projected.
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