After a year in which streaming boomed as the pandemic raged, Netflix Inc. reported a slowdown in its previously robust growth.

The Los Gatos-based streaming giant, which has multiple offices in Los Angeles, missed its new subscriber target for the first quarter of 2021.

The company said April 20 that it added about 4 million subscribers during the quarter, around 2 million less than it expected. Its total subscriber base is now 207.6 million, up 14% from the same quarter in 2020.

Netflix attributed the miss to a “lighter content slate” and production delays related to Covid-19.

The company hit 200 million subscribers in January 2021, as hits such as “Bridgerton” and “The Queen's Gambit” drew millions of viewers.

In its earnings report, Netflix noted that the second half of 2021 will have a heavier content slate as production begins to ramp up again. The company said it plans to spend $17 billion to create content this year.

“While the rollout of vaccines is very uneven across the world, we are back up and producing safely in every major market, with the exception of Brazil and India,” the company said in a statement.

With millions forced to stay home, streaming heated up amid the pandemic. Several new platforms launched in the past year, and services such as HBO Max and Disney Plus have emerged as rivals to Netflix, garnering tens of millions of subscribers.

For the first quarter, Netflix had revenue of $7.16 billion, up 24% year over year. It posted earnings per share of $3.75, more than double the $1.57 per share recorded for the same quarter in 2020.

The company beat Wall Street expectations with revenue between $7 billion to $7.1 billion, and per-share earnings of $2.98.

Netflix has several office and production sites in Los Angeles. It signed one of the biggest new office leases in the area in 2020, taking on 171,000 square feet of space in Burbank. It also acquired the Egyptian Theatre on Hollywood Boulevard in May 2020.