Netflix could lose four million U.S. subscribers in 2020: brokerage

(Reuters) – Needham and Co was the fourth Wall Street brokerage in two months to cut its rating for Netflix Inc <NFLX.O> on Tuesday, arguing competition from new streaming services could lead to the loss of 4 million premium U.S. subscribers next year.

Needham analyst Laura Martin, who downgraded the California-based tech giant to “underperform”, believes Netflix will have to add a lower priced service to compete with competitors including Apple Inc’s <AAPL.O> Apple TV+ service and Walt Disney Co’s <DIS.N> Disney+.