Netflix kicked off the year with the biggest subscriber gains in the history of its video-streaming service, but it still managed to disappoint investors by forecasting a springtime slowdown.
The strong first-quarter performance coincided with Netflix's biggest U.S. price increases and emerging streaming challenges from Walt Disney and Apple, two of the world's most popular brands.
Netflix tested the bounds of its popularity with a recent a recent price hike that raised the cost of its most popular plan to $13 a month, a $2 increase. New U.S. subscribers had to start paying the higher price in January, but it only recently started to hit existing customers. Competition facing Netflix will heat up toward the end of this year when both Disney and Apple plan to start selling their own video-streaming services backed by big budgets.
Apple hasn't disclosed the pricing of its service, which will include programs featuring renowned stars such as Oprah Winfrey, Jennifer Anniston and Jason Momoa, nor a specific date for its debut.
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