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Facing increased pressure from new, deep-pocketed competitors in the U.S., Netflix is looking abroad for more growth opportunities as it faces a continued slowdown in domestic subscribers.
In the fourth quarter, Netflix added 42,000 new subscribers in the U.S. (55,000 including Canada)—bringing it to just over 61 million in total—and acknowledged it is facing increased churn. In a letter to shareholders today, Netflix acknowledged that “recent price changes” and “competitive launches” domestically were affecting U.S. growth rates—referring to its price hikes last May and the rollout of new services like Disney+