Netflix Inc (NASDAQ: NFLX) may have disappointed some shareholders with its most recent earnings report for the second quarter of 2021. Although the streaming giant added 1.5 million net new subscribers in the quarter, slightly above its own forecast of 1 million, its forecast for the next quarter missed consensus estimates.

Analysts had expected to see 5.86 million net new subscribers in the third quarter of 2021 but Netflix’s own forecast was for 3.5 million net new subscriber additions.

The year-to-date and forecasted net subscriber additions in 2021 has significantly slowed compared to yesteryears too. The chart below shows Netflix’s year-to-date net subscriber additions per year for 2017 to 2021.

Source: Netflix letter to shareholders for 2021 Q2

Some investors may also be concerned that Netflix’s subscriber growth in North America may have hit a brick wall as Netflix lost around 430,000 subscribers in that region.

Should long-term shareholders be concerned?