Netflix Signals No Acquisition Plans as It Adds 1.5 Million Subscribers

The Wall Street Journal2021-07-21

Streaming giant’s U.S. member base shrinks even as it beats global growth forecast, says it sees no ‘must-have’ assets despite rival deal-making. NetflixInc.NFLX-0.23%is staying out of the arms race....

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Comments

Mmmina75
2021-07-21
Mmmina75
Like and comment
GreenMan123
2021-07-21
GreenMan123
Not active and long term subsriber. Free trial?
PlayerID
2021-07-21
PlayerID
Pls like
Henryee18
2021-07-21
Henryee18
Drop is coming?
Taniajl
2021-07-21
Taniajl
Bold
- Chenghan:
  Ok
iimkerry
2021-07-21
iimkerry
Like and comment
- PlayerID:
  [微笑]
- Stock12321:
  U are welcome

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If we do that, we’re confident we can maintain our strong position and continue to grow nicely as we have been for the past two-plus decades.” Netflix said.\nNetflix’s declaration came as the company said it added 1.5 million memberships in the second quarter as the streaming giant continues to seeslower growth in new subscribersfollowing a surge last year at the height of the Covid-19 pandemic.\nNetflix said the pandemic had created what it called “lumpiness” in its membership growth, referring to higher growth last year and slower growth this year. The company said it has 209.2 million subscribers world-wide. Shares were flat in after-hours trading.\nThe global leader in streaming’s approach to acquisitions is the opposite of the rest of the entertainment industry, which is in a frantic phase of deal-making in the hopes of assembling content giants that can be formidable rivals to Netflix.\nIn May,AT&TInc.andDiscoveryInc.agreed to combine their media operationsinto a new stand-alone company whose assets will include HBO Max, CNN, Discovery+ and the Warner Bros. movie and TV studios. Last month,Amazon.comInc.struck a deal to acquire MGM for $6.5 billionin the hopes of using the famed movie and TV studio’s library and intellectual property to bolster its Prime Video streaming service.\nThe deal-making might not be finished.ComcastCorp., parent of NBCUniversal andViacomCBSInc.have discussedcreating a streaming partnership for international markets, according to people familiar with the matter.\nWhile Netflix is steering clear of deals, it is looking to expand into new businesses, particularly gaming. Last week, the company hiredFacebookexecutive Mike Verdu asvice president of game development. The company said it would focus on games for mobile devices and would likely rely on Netflix shows and movies for content. Games will be included at no extra cost to Netflix members.\n“We think the time is right to learn more about how our members value games,” the company said in its shareholder letter.\nNetflix Chairman and Co-Chief Executive Reed Hastings said on the company’s investor video Tuesday that games and other ancillary businesses that the company is exploring, such as retail, aren’t meant to be new profit centers or to take away from its content operations.\n“We’re a one-product company with a bunch of supporting elements,” Mr. Hastings said.\nNetflix’s addition of 1.5 million subscribers for the three-month period ending June 30 exceeded its earlier forecast of an additional one million memberships. It added 10 million in the second quarter a year earlier, when much of the world was in lockdown mode.\nTotal revenue at the Los Gatos Calif.-based company rose to $7.34 billion, compared with $6.15 billion a year earlier. Wall Street had expected $7.32 billion, according to FactSet.\nProfit at Netflix increased to $1.35 billion, or $2.97 a share. A year earlier, earnings were $720 million, or $1.59 a share. Earnings missed estimates for GAAP earnings of $3.18 a share.\nThe Asia Pacific region was the company’s strongest in terms of new members, responsible for nearly 70% of the 1.5 million added subscribers. In the U.S. and Canada, the streaming giant lost 400,000 subscribers—the first time it has done so in those markets since the second quarter of 2019.\nEngagement among Netflix subscribers was also down for the quarter compared with the same period a year ago. However, that metric was up 17% compared with the second quarter of 2019.\nNetflix is anticipating a stronger third quarter as media-production delays ease and more fresh content is available. The company said it is forecasting paid net additions of 3.5 million, compared with 2.2 million in the third quarter of 2020.\nThe pandemic continued to hamper Netflix’s lineup of original content for the quarter, but the company said it expects to have a strong slate for the rest of the year.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":176305510,"gmtCreate":1626859013230,"gmtModify":1703479422049,"author":{"id":"4089611052656760","authorId":"4089611052656760","name":"Mmmina75","avatar":"https://static.tigerbbs.com/720a4c11cf3afd47f29db004092e0c91","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4089611052656760","idStr":"4089611052656760"},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176305510","repostId":1142295392,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":176960875,"gmtCreate":1626855106497,"gmtModify":1703479338697,"author":{"id":"4087728163353730","authorId":"4087728163353730","name":"GreenMan123","avatar":"https://static.tigerbbs.com/7102402af7cf840858ba718620b4eb3c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4087728163353730","idStr":"4087728163353730"},"htmlText":"Not active and long term subsriber. 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Free trial?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176960875","repostId":1142295392,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":176914978,"gmtCreate":1626854174694,"gmtModify":1703479322050,"author":{"id":"3570493935431746","authorId":"3570493935431746","name":"PlayerID","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3570493935431746","idStr":"3570493935431746"},"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176914978","repostId":1142295392,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":176997729,"gmtCreate":1626852566461,"gmtModify":1703479296047,"author":{"id":"3561088065415396","authorId":"3561088065415396","name":"Henryee18","avatar":"https://static.tigerbbs.com/68e1124a4989ce380d6aa143a07b2620","vip":1,"hat":"https://static.tigerbbs.com/3b7820dfed76481d8dc4de6ac5a7a136","crmLevel":9,"crmLevelSwitch":1,"authorIdStr":"3561088065415396","idStr":"3561088065415396"},"htmlText":"Drop is coming?","listText":"Drop is coming?","text":"Drop is coming?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176997729","repostId":1142295392,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":176997099,"gmtCreate":1626852453611,"gmtModify":1703479294872,"author":{"id":"4089330361541940","authorId":"4089330361541940","name":"Taniajl","avatar":"https://static.tigerbbs.com/4832c1aaecb90f47aa0c9b8585778afe","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4089330361541940","idStr":"4089330361541940"},"htmlText":"Bold","listText":"Bold","text":"Bold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/176997099","repostId":1142295392,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5281025,"gmtCreate":1626852666283,"gmtModify":1663231255731,"authorId":4087442807714240,"author":{"id":4087442807714240,"idStr":"4087442807714240","authorId":4087442807714240,"name":"Chenghan","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":176997099,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":176994038,"gmtCreate":1626852370424,"gmtModify":1703479293380,"author":{"id":"3582505234815197","authorId":"3582505234815197","name":"iimkerry","avatar":"https://static.tigerbbs.com/952d5ee6ba58c4932f1bcfe499bc579e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3582505234815197","idStr":"3582505234815197"},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/176994038","repostId":1142295392,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5281175,"gmtCreate":1626854188682,"gmtModify":1663231258133,"authorId":3570493935431746,"author":{"id":3570493935431746,"idStr":"3570493935431746","authorId":3570493935431746,"name":"PlayerID","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":176994038,"type":1,"supId":0,"prevId":0,"content":"[微笑]","text":"[微笑]","html":"[微笑]"},{"id":5281006,"gmtCreate":1626852458618,"gmtModify":1663231256545,"authorId":3579145409999130,"author":{"id":3579145409999130,"idStr":"3579145409999130","authorId":3579145409999130,"name":"Stock12321","avatar":"https://static.tigerbbs.com/f10637ad0f811ff622a0741bec055090","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":176994038,"type":1,"supId":0,"prevId":0,"content":"U are welcome","text":"U are welcome","html":"U are welcome"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":43,"commentSize":18,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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