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Netflix stocks sink after massive subscribers miss.

Netflix has officially passed the 150 million subscribers mark. But because of some issues, the big building of Netflix stocks got dissolved and missed a large number of new subscribers.

According to a latest earning report released this Wednesday says that in the second quarter of 2019 the company has added 2.7 million new subscribers. That is just over half of 5 million new subscribers that analysts were expecting. It is expected to add 7 million new subscribers in next quarter says the service analysts.

Netflix new stocks plummet 12% after-hour trading. Profit of the company was $384 million in the first quarter of last year, which fell to $271 million in the second quarter of 2019. Netflix said that “We don’t believe the competition was a factor since there wasn’t the material of change in the competitive landscape during Q2, and competitive intensity and our penetration is varied across regions,”

Credits: Google play

To give competition and to topple Netflix from its spot on the streaming king many other Big Tech and Big Media, with their deep pockets and even deeper libraries, are entering the market. The biggest threat for Netflix is Disney, which will debut Disney+ on November 12 in North America. Disneys most entertaining aspects may not be its library but rather its price. At $6.99 a month, it is half of what Netflix charges for its standard plan.

The second threat for Netflix is Warner media by Warner Bros. Recently Warner media have announced earlier the HBO will hit it the market with 10000 hours of content.

The latest release of Netflix “the stranger things season 3” which was released on the third week of the July month. According to the Nielsen data. Season 3 of the strange thing has attracted more than 26.4 million unique viewers in first four days of its release in the US. According to the viewership data company “Stranger things season, 3 is the most-watched Netflix original series we’ve ever analyzed,”