Netflix rebounds as subscribers grow ahead of Disney, Apple attack

Netflix Says Mobile Plan Did Better Than Expected in India Might Bring It to Other Markets

Netflix fell 300,000 subscriptions short of its forecast in the USA market and 200,000 short in global additions in the last quarter, missing growth targets for the second quarter in a row, according to Q3 results released overnight.

The company also reported earnings per share that surpassed expectations.

The streaming incumbent is still adding millions of subscribers overall though - another 6.8 million signed up in Q3 in total, including 517,000 U.S. subscribers.

Netflix is expected to face tough competition as the so-called "streaming wars" begin with the launch of Disney+ and Apple TV+ in November.

Netflix leaders said they remained confident of the firm's long-term prospects, noting that the firm has been competing against traditional television and firms such as Amazon and YouTube for years.

The video-streaming pioneer is bracing for the launch this month of Walt Disney Co's Disney+ and Apple Inc's Apple TV+ after years when it has been left largely to develop and garner content from Hollywood studios unthreatened. "We do these different tests and try to figure out what is the right set of plans that have the right benefits, the right features that are delivered at the right price for the subscribers in any given market" Peters said.

"Fundamentally, it is more of the same".

But analysts said the latest report includes signs of trouble ahead for the market leader, which fell short of its subscriber targets.

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New streaming services are more likely to steal audiences from traditional television, they added.

Netflix trimmed its forecast for subscriber growth this year, saying that it now expects to add 26.7 million subscribers at the end of this year, down from 28.6 million subscribers last year.

Netflix said its mobile-only subscription plan for India is better than expected and will look at testing it in other markers with similar conditions.

"We're expanding our non-English language original offerings because they continue to help grow our penetration in worldwide markets", it added. "We also plan to expand our investment in local language original films and unscripted series", said the company.

"Amazing content can be expensive", Netflix said.

"Just to talk a little bit about where we are in India, I mean again, we think about revenue as a guiding principle for us". For example, the Spanish-language action series Money Heist has been tremendously popular here in the United States, and other non-English content has been popular as well.

Hastings reasoned that with Facebook and YouTube boasting billions of active users, and billions of mobile phones users who can stream shows from the internet, there is a huge market for Netflix and its rivals to share.

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