Netflix is like a thoroughbred racehorse. At full gallop, the streaming video group moves at breathtaking pace, yet even the slightest knock can cause it to stumble. That much was borne out by Netflix’s latest trading figures, published on Monday, which brought a recent blistering run on the Nasdaq to a clattering halt.
Shares in the company fell by 10 per cent at one point yesterday, although they recovered a little later to close more than 5 per cent down, after growth in its subscriber numbers fell short of expectations. Between April and June, it added a 5.2 million new paying customers — about a million shy of expectations — taking its subscriber base to 130 million.
Growth has largely plateaued in its domestic market,