Needham and Co was the fourth Wall Street brokerage in two months to cut its rat...
The cut came a day after Netflix dominated nominations for January’s Golden Globe awards, landing 17 in TV categories and 17 more for movies, including leading contenders “Marriage Story” and “The Irishman”.
The streaming service had 60.62 million paid subscribers in the United States as of its latest quarter ended Sept. 30, accounting for over a third of its global subscriber base. Martin argued that the video streaming pioneer’s staunch refusal to allow advertising on its platform force it to stick with premium price points which will result in subscriber losses in its most profitable market.
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