Netflix disappoints as subscriber numbers dip below expectations
Investors have retreated from film streaming service Netflix, sending its stock around four per cent lower, following the publication of disappointing subscriber numbers.
The digital entertainment provider reported that it had added 630,000 streaming subscribers in the second quarter, below the average of 700,000 which had been penciled in by analysts.
This disparity was sufficient for some to question whether the commercial potential of hit shows such as Arrested Development and House of Cards may have been over stated.
Nevertheless industry pundits have been impressed by Netflix’s progress in creating original content, a policy which has driven subscriber numbers and viewership in the US.
Netflix had amassed a total 0f 29.8m US subscribers at the end of June.