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Netflix growth slows as vaccinations ramp up

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Published 8:05 AM

(KYMA, KECY/CNN) - Netflix got a huge boost in subscribers last year due to the Covid-19 pandemic which kept people at home and glued to streaming devices. Now, that is slowing down.

With vaccinations ramping up, Netflix reported subscriber growth slowed a lot in the first quarter of 2021.

The streaming service reported Tuesday that it added only four million subscribers in the first quarter and now has only 208 million subscribers, which is two million short of the company's goal in 2021.

In a letter to investors on Tuesday, Netflix placed part of the blame of less content in the first quarter due to Covid-19 production delays.

Netflix said as production returns to normal around the world, it plans to spend more than $17 billion on content this year, and anticipates a strong second half.

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Cole Johnson

Cole Johnson is News 11’s Sports Director.

Contact Cole at cole.johnson@kecytv.com.

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