Get All Access for $5/mo

Netflix Expects To Report Slowest Revenue Growth: Reuters The streaming pioneer has been reportedly staggering under strained consumer spending, rising costs of financing production and increased competition from Disney+ and Amazon Prime

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

One of the most popular over-the-top streaming services and production company, Netflix Inc is expected to report its slowest quarterly revenue growth on Thursday as its ad-supported plan struggles to attract customers in the saturating US market that could pressure the company to pull back on content spending this year, according to a Reuters report.

The streaming pioneer has been reportedly staggering under strained consumer spending, rising costs of financing production and increased competition from Disney+ and Amazon Prime.

In November 2022, Netflix had launched its ad-supported subscription plan. The cheaper ad-supporter plans aimed to regain the lost subscribers and gather new paying customers. The plan named 'Basic with Ads' was launched for the subscribers in the US, UK, France, Germany, Italy, Australia, Japan, Korea and Brazil. But, as per the experts' opinion, the streaming platform hasn't seen a burst of subscriptions.

The $6.99 per month ad-supported plan does not have access to all titles and is not cheap enough to win over significant numbers of customers in the United States and Canada, stated the report.

According to the report, the company is expected to have added 4.5 million subscribers in the fourth quarter, the lowest addition for the holiday period since 2014. It added 8.3 million subscribers a year ago.

Jamie Lumley, an analyst at Third Bridge, in the news report was quoted as saying, "Looking at the saturation of the market and the variety of different options available, and the fact that the pricing is not necessarily significantly below the competition, there are some challenges in attaining those subscriber targets."

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Living

Taylor Swift Has a Lucky Number. And She's Not the Only High Performer Who Leans Into Superstitions to Boost Confidence.

Even megastars like Swift need a little extra something to get them in the right mindset when it is game time.

Business News

How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

Austin Russell became the world's youngest self-made billionaire in 2020 at age 25.

Making a Change

9 Motivational Quotes from Serena Williams

Serena Williams' historic win at Wimbledon on Saturday left the world in awe of her talent. Here's how she keeps her mental game sharp on and off the court.

Living

12 Upbeat Ellen DeGeneres Quotes to Put You in a Good Mood

In a funk? Some quotes from comedian and TV personality Ellen DeGeneres can turn your day around.

Career

How College Prepares Your Child For Success With This One Quintessential Trait

College may not guarantee success or a job in your chosen field, but it might be the ideal place for your child to learn independence — a trait necessary for success.

Marketing

SEO Trends You Need to Be Aware of Right Now, According to a Seasoned Pro

Navigate the future of search engine optimization to elevate your online presence and drive meaningful engagement.