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| Netflix blames competition for weak US growth | Netflix blames competition for weak US growth |
| (32 minutes later) | |
| The emergence of new competitors has started to dent Netflix's growth in the US. | The emergence of new competitors has started to dent Netflix's growth in the US. |
| The streaming giant said it added just 420,000 subscribers there in the most recent quarter. | The streaming giant said it added just 420,000 subscribers there in the most recent quarter. |
| It blamed the "low membership growth" on "new competition" as well as its recent decision to raise the price for its streaming service. | It blamed the "low membership growth" on "new competition" as well as its recent decision to raise the price for its streaming service. |
| Netflix finished 2019 with more than 167 million paying customers globally, ahead of Wall Street expectations. | Netflix finished 2019 with more than 167 million paying customers globally, ahead of Wall Street expectations. |
| It said it was boosted by releases that included a new season of royal drama "The Crown" and fantasy show "The Witcher". | |
| Subscriber battle | Subscriber battle |
| Netflix is contending with a raft of new competitors, as rivals like Disney, Apple and Comcast offer their own streaming services. | Netflix is contending with a raft of new competitors, as rivals like Disney, Apple and Comcast offer their own streaming services. |
| The firm is spending heavily on content to fend off the threats, with at least one analyst predicting it will invest more than $17bn in 2020. | The firm is spending heavily on content to fend off the threats, with at least one analyst predicting it will invest more than $17bn in 2020. |
| The firm's shares have had a bumpy ride since 2018, as investors grow more wary about its growth prospects. | The firm's shares have had a bumpy ride since 2018, as investors grow more wary about its growth prospects. |
| Last year, the company lost US subscribers during the second quarter - the first such decline in eight years. | Last year, the company lost US subscribers during the second quarter - the first such decline in eight years. |
| Netflix said its growth overseas had been less affected by the launch of new rivals. | Netflix said its growth overseas had been less affected by the launch of new rivals. |
| "As always, we are working hard to improve our service to combat these factors and push net adds higher over time," it said in a letter to investors. | "As always, we are working hard to improve our service to combat these factors and push net adds higher over time," it said in a letter to investors. |
| Growth in Europe, the Middle East and Africa will fuel Netflix in coming months, said Paolo Pescatore, analyst at PP Insight, adding that the firm remains in a strong position. | Growth in Europe, the Middle East and Africa will fuel Netflix in coming months, said Paolo Pescatore, analyst at PP Insight, adding that the firm remains in a strong position. |
| "Netflix has a huge head start and remains in pole position given its broad content catalogue and extensive relationships with telcos and pay TV providers," he said. | "Netflix has a huge head start and remains in pole position given its broad content catalogue and extensive relationships with telcos and pay TV providers," he said. |
| "It should be able to weather the streaming battles over the short to medium term." | "It should be able to weather the streaming battles over the short to medium term." |
| Netflix said it earned profit of almost $587m (£450m) for the three months to 1 January, on revenue of $5.5bn. | Netflix said it earned profit of almost $587m (£450m) for the three months to 1 January, on revenue of $5.5bn. |