Netflix recently released the number of new subscriptions they managed to add in this quarter. They successfully added 2.2 Million new subscribers to the streaming platform. This comes as bad news to the company as this is substantially lower than last year. In 2019, they were able to add 6.8 new members to the service. The combined number of users is presently 195.2 million.
This hefty figure is one million below the number that was projected by Wall Street analysts. Due to this particular reason, the stock prices of Netflix has been slashed down by 5%. Things were pretty good for them in the first nine months of 2020 but went downhill in the last quarter. News about Netflix planning to raise the subscription prices has also been circulating.
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