Netflix on Thursday reported falling short of estimates on new subscribers, and predicted slower growth in 2022 as fierce competition and the pandemic weigh heavy despite hits like "Squid Game" and "Money Heist."
The streaming service ended the year with 221.8 million subscribers, just below target, after booming during coronavirus lockdowns that kept people at home and on the app.
"We slightly over-forecasted paid net adds in (the fourth quarter)," Netflix said in a letter accompanying its quarterly earnings report. Netflix said in the earnings report that it expected to only add some 2.5 million subscribers in the first quarter of 2022, certain to fuel investor concerns about the future of sign-ups.
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