“We are growing, but not as fast as we would like,” Netflix CEO Reed Hastings writes in the publication of the quarterly figures for the second quarter of 2016.
Netflix now has a total of 83 17 million subscribers, an increase of 1.7 million compared to the previous quarter. Netflix wanted the last three months, actually growing by 2.5 million new subscribers
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Last year, Netflix got there 3.3 million new subscribers in the same period. In the US, Netflix won the last three months, 160,000 new members, where where it would grow by half a million.
International membership grew by 1.5 million, where Netflix wanted 2 million new subscribers. The disappointing figures dives share Netflix in after 15 percent down.
Price Increase
According to Netflix, the disappointing growth in users primarily due to the loss of existing users. Where the growth of new subscribers as planned, leaving more members than expected the streaming service.
Hastings blames the outgoing subscribers of news about rising subscription prices. Netflix announced in 2015 an increase in prices, making the monthly amount of all subscriptions by 1 to 2 per month increase.
That news, according Hastings had a deterrent effect on customers, Netflix then still left before the subscription price rose. The price increase applied immediately for new subscribers, older subscribers remained temporarily pay the old rate. Still, customers would actually see their prices rise or remain a subscriber according to Hastings.
Netflix made for the months of April, May and June a profit of $ 40.7 million (36.7 million euros), a revenue of $ 2.1 billion (1.9 billion euros). In the same period last year, revenue was $ 26 million (23 million) on revenue of 1.6 billion dollars (1.44 billion euros).
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