Netflix's video streaming service suffered dramatic slowdown in growth in the 2nd quarter.
FILE - This March 19, 2018, file photo shows the Netflix app on an iPad in Baltimore. Netflix reports earnings Wednesday, July 17, 2019.
The slowdown rattled investors already wondering how Netflix might fare against a new wave of competition coming this fall when both Walt Disney Co. and Apple plan to launch their own video streaming services. Signaling it expects to regain some momentum this summer, the company projected it will add 7 million subscribers from July through September. The optimism stems in part from the immense popularity of “Stranger Things,”But the battle for viewers’ attention and dollars is about to get much tougher. Besides the Disney and Apple, AT&T will also join the fray next year with HBO Max and NBC is expanding into video streaming, too.
But the increasingly crowded video streaming field has led to questions whether Netflix will be able to maintain the rapid rate of subscriber growth that has made its stock as one of Wall Street’s premier performers during the past decade.
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