In the second quarter, the company added just 28,000 new subscribers, growing its base by 0.9 percent to 3.044 million customers.
The Dutch market is still growing, unlike Netflix’s home market, where it reported earlier a drop in subscribers in Q2. In all its international markets, the company posted 3.1 percent growth in subscribers, equal to 2.83 million new customers.
The slowdown in the Netherlands is not surprising given the high penetration of Netflix in the country. Launched in September 2013, Netflix reached a peak of 81 percent annual growth in mid-2015. It has since grown to a penetration of 40 percent of Dutch households in Q1, according to Telecompaper’s report Video behaviour of Dutch consumers. Its closest rival, local provider Videoland had just a 10 percent share of households.
Modest growth is expected to continue, helped by offers such as KPN’s latest promotion for three months Netflix free. However, rivals are planning their own OTT video services, including Apple+, Disney+ and WarnerMedia’s HBO Max, which might impact Netflix’s subscribers count in the coming year.