Netflix added 8.3 Million Paid Subscribers in Last Quarter

Netflix saw the slowest growth in the number of its subscriber ever since 2015. The streaming platform added 8.3 million paid subscribers which are less than its projected number of subscribers which was 8.5 million.

The forecast and the growth led to a fall of around 20% in its stock at the close of trading on January 20. The Co-founder and chairman, Reed Hastings of Netflix has said that overall business was healthy and retention was strong but was unable to grow acquisition quite as fast as they would have liked to.

Reed Hastings also said that the acquisition was growing but not as quite as fast as they were hoping for. The revenue of the streaming platform in the fourth quarter of 2021 grew 16% with a 9% increase in average paid memberships.