PanArmenian.Net
11 Dec 2019, 17:37 GMT+10
PanARMENIAN.Net - Needham and Co was the fourth Wall Street brokerage in two months to cut its rating for Netflix on Tuesday, December 10, arguing competition from new streaming services could lead to the loss of 4 million premium U.S. subscribers next year, Reuters reports.
Needham analyst Laura Martin, who downgraded the California-based tech giant to "underperform", believes Netflix will have to add a lower priced service to compete with competitors including Apple Inc's (AAPL.O) Apple TV+ service and Walt Disney Co's (DIS.N) Disney+.
The cut came a day after Netflix dominated nominations for January's Golden Globe awards, landing 17 in TV categories and 17 more for movies, including leading contenders "Marriage Story" and "The Irishman".
Netflix's video streaming push has seen subscriber numbers dwarf those of rival services at the cost of huge investment in both regional and international content on its platform.
The streaming service had 60.62 million paid subscribers in the United States as of its latest quarter ended Sept. 30, accounting for over a third of its global subscriber base.
Get a daily dose of Caribbean Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Caribbean Herald.
More InformationLONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
Representatives of women's organizations and networks that were part of the first delegation of gender experts at the talks in Havana...
The 17th BRICS summit was more than a photo op. It was a coordinated rejection of Western power and a declaration of intent A few...
The 17th BRICS summit was more than a photo op. It was a coordinated rejection of Western power and a declaration of intent A few...
President Lula da Silva has pushed back, vowing reciprocal action and defending the countrys court system US President Donald Trump...
President Lula da Silva has pushed back, vowing reciprocal action and defending the country's court system ...
(Photo credit: Alex Martin/Journal and Courier / USA TODAY NETWORK via Imagn Images) Southern California offensive lineman DJ Wingfield...