Netflix stock (NFLX) took a major hit after hours this Wednesday after missing their projected subscriber growth numbers. The company reported amassing 2.7 million new subscribers, shy of the projected 5.3 million. This growth miss comes after price hikes earlier this year.
We are now left to wonder if Netflix may have already hit peak growth. Streaming competition is ramping up and Netflix is going to be feeling heavy pressure from other big companies like Disney and AT&T. The quality of their original content will continue to play a pivotal role in their reputation going forward as consumers will have a variety of streaming options to choose from.