Netflix: Delays in films & series - share under pressure

Created: 01/21/2022, 11:45 am

 Netflix's Ryan Reynolds film 'The Adam Project' has been delayed.

© Jordan Strauss/Invision/AP/dpa

Streaming giant Netflix is ​​struggling with delays in new series and films - and surprising its investors with bad expectations.

The stock plummeted.

Los Angeles – The world's largest streaming provider Netflix * caught investors cold with its gloomy outlook on new business.

Netflix shares fell by almost a fifth in after-hours trading, giving up almost all of the gains accumulated in the corona pandemic. 

Netflix is ​​struggling with delays in new series and films

Netflix only expects to add 2.5 million subscribers from January through March, which is less than half of what analysts were hoping for. The US group justifies its gloomy expectations with delays in new series and films such as the new "Bridgerton" season and the Ryan Reynolds film "The Adam Project". However, the fierce competition from Disney, Apple and Amazon should also ensure that customers do not only use Netflix when they are sitting in front of their smartphones and laptops. Disney shares also lost in the wake.

Netflix co-boss Ted Sarandos also justified the outlook with the ups and downs caused by the corona crisis, which makes predictions more difficult.

At the same time, he emphasized that the basis of the business is "pretty solid".

More and more people worldwide are turning away from traditional television and switching to streaming services.

Customers should be lured to Netflix with big stars

From October through December, Netflix added a total of 8.3 million subscribers to nearly 222 million worldwide, also thanks to the new season of The Witcher and star-cast films like Red Notice and Don't Look Up starring Leonardo DiCaprio* .

It is still unclear how the recent price increase in the US and Canada will affect user numbers.

Netflix, but also Disney, Apple and AT&T's HBO Max are investing billions in new content to encourage customers to watch regularly.

The US streaming pioneer also relies on mobile video games and wants to expand the offer in 2022.

Fourth-quarter earnings rose 12 percent to $607 million and revenue increased 16 percent to $7.7 billion.

Sales of $7.9 billion are expected for the current quarter.

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