Netflix has announced its Q2 results, revealing that the service added nearly 2 million fewer international customers than expected.
The SVoD also lost subscribers in the US for the first time in eight years.
Paid subscribers grew by 2.83 million internationally against expectations of 5 million, citing a weaker content slate in the quarter along with price hikes.
“Our missed forecast was across all regions, but slightly more so in regions with price increases,” the company said. “We think Q2’s content slate drove less growth in paid net adds than we anticipated.”
Addressing the upcoming SVoD launches by Disney, Apple, WarnerMedia and NBCU, Netflix said competition “is fierce for all companies and great for consumers,” adding that “we have much room for growth.”