Netflix shares fell 20% after subscriber growth slowed down in the fourth quarter of 2021.
These are the lowest levels Netflix has seen since June of 2020.
Netflix company had expected a large jump in subscribers at the end of 2021, after it released new tv shows and movies, including “Emily in Paris,” “Don’t Look Up” and “You.”
Analysts at StreetAccount had expected the streaming giant to add more than 8 million global paid net subscribers during that time.
The Q4 estimate was based on subscriber growth seen in Q4 of 2020. Shares for Roku and Disney also fell more than 4% in after-hours trading.
Looking ahead, Netflix expects to add 2.5 million subscribers in the first quarter of this year, well below the 3.98 million it added in the same quarter of 2021.
The news comes after Netflix raised monthly subscription prices last week.
The streaming service’s basic plan now costs $9.99, the standard plan is $15.49, and the premium plan is now $19.99 per month.