As competition mounts, Netflix faces shrinking market share, report says

Disney+’s global audience demand share increased to 7.3% in the second quarter, up from 6%, Parrot Analytics found.

The Los Gatos company has been adding local language productions and seen popularity skyrocket globally for shows like thriller “Lupin,” filmed in French.

The company as well as other streamers saw a huge surge in growth in the early part of the COVID-19 pandemic, as many people looked for ways to entertain themselves as they sheltered at home.

In the first quarter, Netflix missed its new subscriber estimates, adding about 4 million instead of 6 million.

For the second quarter, Netflix was already anticipating slower growth compared with the 10 million new subscribers last year.

To counteract any potential loss of subscribers, Netflix can continue to keep its brand at the forefront of consumers’ minds by marketing its shows on podcasts and through games and live events, analysts said.

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