Revenues, profits hold as Q2 subscriber growths stalls at Netflix

LOS GATOS, CA – Netflix saw its second quarter subscriber growth slow to a trickle by its standards, a phenomena that it blamed on negative press coverage of its price hikes.In a note to shareholders that included the company’s financial results, Netflix said that subscriber churn “ticked up slightly and unexpectedly”, coincident with April’s news of its plan to phase in price increases to some of its earliest subscribers.“We think some members perceived the news as an impending new price increase rather than the completion of two years of grandfathering”, reads the note. “While un-grandfathering and associated media coverage may...