NEW YORK: The Netflix has dropped its share as low as 27 percent as it signed up fewer video streaming subscribers than forecast for the quarter that ended in September as its US growth slowed markedly. The company said that $1 price hike to $8.99 a month is the cause of fewer sign-ups in the US.
Sources said it lured 3.02 million new streaming customers globally, compared to the 3.69 million it projected in July.
The company said it attracted about 980,000 new customers in the US, its largest market, down from 1.29 million in the same period a year earlier.
Netflix, waving off fears that a standalone HBO would draw users away, argued that many will subscribe to both services because they offer different shows. The company said that It is likely that both prosper as consumers move to Internet TV.
