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Netflix's "great fear" is here: it can't keep up with its growth

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Netflix He went through the confessional this Tuesday at the close of the market and as usual his accounts have not gone unnoticed. And is not for less, the worst omens from analysts have been fulfilled, relaxation in the growth of new users is here.

The streaming channel has gained 3.98 million new users in the first quarter, practically half of what the consensus of analysts expected, which estimated about 6.2 million. The figures have not liked and its actions are plummeting more than 10% in the 'after hours' of Wall Street.

Despite the sharp falls that are being experienced in the park, these are figures that have not caught analysts by surprise. "The great fear of investors is that the time will come when this giant of the domestic leisure sector can't keep up with the spectacular growth numbers new affiliates, in an environment of increasing competition ", explains Aitor Méndez, IG analyst.

In a very similar line they are pronounced from Swissquote. His analyst Ipek Ozkardeskaya assures that "the arrival of spring and the reopening of economies are significant risks to Netflix revenue, combined with ever-higher subscription fees in a very competitive environment. "

From the company they downplay this slowdown. "We believe that the growth of paid affiliations slowed down due to the big Covid-19 pull in 2020 and to a lighter content list in the first half of this year, due to delays in the production of Covid-19 ", they explain from Netflix in their letter to shareholders.

Nor do they believe that it is related to an increase in alternatives to Netflix (Disney +, HBO …). "We do not believe that the intensity of competition has materially changed in the quarter or that it has been an important factor in the variation, since the over-forecast was in all our regions, "according to the statement.

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