After a long reign as the streaming king, Netflix isn’t ready to give up its crown.
The streaming giant lost nearly 1 million subscribers between April and July, but that was less than feared and the company said subscription growth could start again later this year.
The company reported its first drop in subscribers in 11 years in April, news that was followed by hundreds of job cuts.
Competitors are challenging its dominance while price hikes have taken their toll.
The launch of a new season of hit sci-fi drama Stranger Things in May helped the company stem the exodus – which it had forecast at around 2 million.
But Guy Bisson, executive director at Ampere Analysis, said it was “inevitable” that Netflix would start easing the market.
“When you’re a leader, there’s only one direction you can go, especially when there’s a lot of competitors launching what Netflix has seen in the past few years,” he said.
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