Netflix blames weak subscriber adds on new cards

Websites are now required by law to gain your consent before applying cookies.

According to Sarandos, Netflix is interested in being able to improve the viewing experience, whatever kind of content people are watching. Parts of the website may not work as expected without them.

In an October 14 story about Netflix’s third quarter results, The Associated Press erroneously reported the duration of the company’s price freeze for current subscribers to its most popular video plan.

The company said on Wednesday it added 0.88 million US subscribers in the third quarter ended September 30, compared with its forecast of 1.15 million.

Netflix is growing – and fast. That brings Netflix’s total to more than 69 million. We know this because the company just announced its third quarter earnings, reporting $1.74 billion in revenue and $74 million in profit. On the heels of its latest launch in Japan, Netflix has almost 26 million members internationally. Shares fell 3.9 per cent after having previously increased by 72 per cent in the past 12 months, The Wall Street Journal reports. He expects that overall, Netflix shares will be heading upward but that near term volatility will continue and that there will be “periodic pullbacks”. The company will start to offer services in South Korea, Singapore, Hong Kong and Taiwan once its Japan headquarter is ready as it is planning to make Japan as its centre in Asia.

The company’s chief executive Reed Hastings said subscription costs had increased to fund Netflix’s original content.

Nevertheless, Netflix appears to be determined to pull more subscribers into its streaming service by tapping another staple, news programming, Variety noted.

While Netflix’s worldwide net subscriber additions was better than its forecast, a few analysts said the beat was driven by free subscribers, which may not translate into paid subscriptions.

“The secular shift to on-demand consumption is best described as “consumers evolving vs. old habits” rather than ‘Netflix vs. traditional media.’ We’re all racing to fulfill consumer desires”, Hastings said.

The introduction of the new credit and debit cards, created to help prevent fraud, interrupted the payment system used by Los Gatos, Calif.-based Netflix and its customers, leading to what Hastings called an “inability to collect”.

“Regardless, we still believe that Netflix is a prime takeover target”.

The company added it was not looking at live sports as an offering now.