Go Figure: Netflix Price Hike Turns Off Some Viewers


Netflix added nearly 1.7 million subscribers in the second quarter of 2016, falling short of its own forecasts as higher prices for some older customers spurred an increase in cancellations.

The company added 1.5 million new customers overseas, compared with an April projection of 2 million, CEO Reed Hastings said Monday in a statement posted on the company’s website. Netflix also added 160,000 in the U.S., well below its prediction of about 500,000 new domestic customers.

The company’s total reached 83.2 million, up from 65.6 million a year earlier. But the 1.7 million net additions were also well below the 3.3 million net additions a year ago.

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