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Netflix Falls After Pandemic Boom Reverses to Rare Weakness


Netflix Falls After Pandemic Boom Reverses to Rare Weakness
Bloomberg
5 hrs ago
Lucas Shaw
(Bloomberg) Netflix Inc. credited the pandemic with delivering record growth in 2020. Now it’s blaming the pandemic for the worst first quarter in eight years.
The streaming service added far fewer new customers than Wall Street expected in the first three months of 2021, even missing its own forecast by millions of subscribers. And the current quarter will be more challenging, Netflix said Tuesday, predicting a gain of just 1 million new customers or a fraction of the 4.44 million projected by analysts.
The dismal growth sent Netflix shares down as much as 8.4% in New York trading on Wednesday. They were off 7.5% to $508.24 at 9:57 a.m. ....

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Netflix Password Crackdown May Boost Risk of User Turnover


Netflix Password Crackdown May Boost Risk of User Turnover
Bloomberg
3/15/2021
Ryan Vlastelica
(Bloomberg) Netflix Inc. may find out soon just how many of its viewers will agree to pay to use its services.
The video-streaming giant is taking a firmer stance against people sharing account passwords, testing a feature that prompts non-paying viewers to buy a subscription. A Netflix spokesperson wrote that the test was “designed to help ensure that people using Netflix accounts are authorized to do so.”
A key question for Wall Street is how many will become paying users. While several analysts are confident that most won’t want to give up access to shows like “Bridgerton” or “The Queen’s Gambit,” the question brings uncertainty at a time when rival services are adding millions of subscribers. ....

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