Netflix records dramatic slowdown in subscribers as pandemic boom wears off

• Streaming giant adds 4m subscribers, 2m below forecast
• Company blames dearth of new content and last year's growth

Netflix reported a dramatic slowdown in subscribers in the first three months of 2021, ending a record run in growth during the coronavirus pandemic.

The streaming giant added 4 million new subscribers in the first quarter, 2 million fewer than its original estimate of 6 million and a quarter of the 8 million it added in the last three months of 2020. The company expects to add only about 1 million subscribers in the current quarter, which would be its slowest growth on record.