Netflix CEO Reed Hastings doesn't seem too worried about the influx of competitors into the streaming industry.
among others, gear up to launch their own standalone streaming services, analysts have questioned if Netflix will take a hit."The advantage of having something be catchy like 'the streaming wars' is that it draws more attention, and because of that, consumers shift more quickly from linear TV to streaming TV," Hastings said during the company's earnings call Wednesday., shares of the company fell more than 10% as Netflix revealed global net adds of 2.
The company blamed price hikes and a lackluster slate of new content for the lower-than-expected subscriber growth. However, Netflix has said that the third quarter's content, including the recently released third season of "Stranger Things," will help turn the tide.
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