The video streaming service Netflix has just had the strongest three months in its existence - bringing the total number of its subscribers to 149 million globally. But the company has warned that its breakneck growth is about to slow. Kara Swisher, a technology business journalist and a co-founder of Recode, talked to Today.
"They are very inventive, spending a lot of money and attracting big stars," she tells the programme.
But there's lots of competition and the sense of fragmentation in the market - will consumers pay for lots of platforms as Disney and Apple enter the market? It might explain why the shares are down a shade.