Netflix's video streaming service suffered a dramatic slowdown in growth during its traditionally sluggish spring season, a drop-off coming as the company boosts its prices and girds for even stiffer competition. That's far below Netflix's forecast of 5 million subscribers. Signaling it expects to regain some momentum this summer, the company projected it will add 7 million subscribers from July through September. Besides the Disney and Apple, AT&T will also join the fray next year with HBO Max and NBC is expanding into video streaming, too. In the most recent quarter, Netflix earned nearly $271 million, a 30% drop from the same time last year.

Source: ABC News July 17, 2019 20:24 UTC