Netflix Warns Of Slowdown Despite 10 Million Subscriber Surge During Lockdown
The condition of online streaming company Netflix, which added 10 million new subscribers during the lockdown phase, has started to peter out. Netflix has now warned investors that the pace of adding new subscribers has slowed down and it may slow down further in the remaining six months of this year. Netflix expects to add just 2.5 million new subscribers in the July-September quarter, which will be its weakest performance in years. Amidst these fears, Netflix shares fell nearly 10 per cent in after-hours trading.