Netflix shares got hammered in the after-hours session Tuesday after the company reported a big miss in subscriber figures during its first quarter. Despite the fumble, the streaming giant beat Wall Street estimates on both the top and bottom lines.

Variety Intelligence Platform Media Analyst & Correspondent Heidi Chung and VIP Media Analyst Kevin Tran discuss what the sharp deceleration in subscriber growth means for Netflix and its competitors.

For further, in-depth analysis of the media industry, become a VIP subscriber today, and click here to access the full VIP report on what to expect from Q1 media and tech earnings.