Netflix announced data for the fourth quarter of 2021, revealing that it reached 8.3 million new users in the last period of the year, for a total of 221.84 million subscribers worldwide. These are slightly below the Wall Street projections, which estimated 8.5 million new users at the end of the period.
Furthermore, the company expects that, by the end of the first quarter of 2022, subscribers will amount to 224.3 million, “only” 2.5 million more than the current figure. This data was enough to cause Netflix stocks to plummet by 20% in the after-hours stock market. After hitting an all-time high last fall, the company’s stock is at its lowest level since last spring.
The big content will come later
In the letter to shareholders, the company says this data reflects the absence of important content and the fact that it will come later. Such as the second season of Bridgerton and the film The Adam Project (with Ryan Reynolds ), due in March. The letter reads:
Furthermore, while retention and engagement are still healthy, growth in acquisitions has not yet accelerated to pre-Covid levels. We think this may be due to several factors, including the spread of Covid and macro-economic difficulties in different parts of the world.