Netflix nears 70 million subscribers, but share price falls

Netflix may be growing around the world, but it failed to meet its own hype here at home.

The streaming service reported that it had added 880,000 subscribers in the U.S., far short of the anticipated 1.15 million increase.

It was also fewer than the 980,000 boost in U.S. subscribers that Netflix recorded in the third quarter last year.

Netflix stock was down 6% in after hours trading.

Overall, Netflix surpassed 69 million subscribers and exceeded its expectations in overseas markets with 2.74 internationally.

The earnings report comes a few weeks after Netflix announced that it would be hiking the cost of its standard plan from $8.99 a month to $9.99.

Netflix had plenty to be happy about in its third quarter, which was marked by well-received content on its platform and praise from the television industry.

The streaming TV service picked up 34 nominations at this year’s Primetime Emmy Awards. It only won one big award, however, for “Orange Is the New Black’s” Uzo Aduba in the Outstanding Supporting Actress in a Drama Series category.

The company is now setting its sights on motion pictures: it is premiering its first film, “Beasts of No Nation,” in theaters on Friday.

The film will be distributed in both theaters and on Netflix simultaneously. It holds a 91% score on review site Rotten Tomatoes and is catching Oscar buzz for its star Idris Elba.

“Idris Elba gives a powerhouse performance,” wrote Rolling Stone movie critic Peter Travers. “The Oscar for Best Supporting Actor should have his name on it.”

Netflix also looks to have a happy holiday with its first Christmas special, “A Very Murray Christmas.”

The special, which the company released the trailer for on Wednesday, stars Bill Murray as he attempts to hold a Christmas celebration during a snowstorm.

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