Netflix shares fall after quarterly report
Written by Edmund Lee
The cracks are showing in Netflix’s worldwide dominance.
Netflix is still king of streaming video, but audiences are slowly shifting toward new rivals, namely the Walt Disney Company’s Disney+, according to research from Parrot Analytics.
Netflix’s share of worldwide demand interest — a measure, created by Parrot, of the popularity of its shows and a key barometer of how many new subscribers a streaming service is likely to attract — fell below 50% for the first time in the second quarter of the year.
The company’s “lack of new hit original programming and the increased competition from other streamers is going to ultimately have a negative impact on subscriber growth and retention,” Parrot said in a news release before Netflix announced its quarterly earnings Tuesday.
Netflix said it had attracted 1.5 million new subscribers in the second quarter of the year, beating the low bar it…
