Netflix (NFLX) is out with its earnings and it’s shown a strong subscriber increase as fresh content has attracted users in the millions. The company saw a 4.4m increase in subscribers during Q3 2021, and it expects to add 8.5m more in Q4.
The main driver comes from the company’s increasingly global mindset over the past few years. Currently, only a third of its subscribers are US-based, with those from the EMEA region looking to surpass North American numbers. Asia-Pacific was also the company’s fastest-growing region with 2.18m new subscribers this quarter — almost half of the total. Netflix’s strategy now revolves around releasing new content as the company’s Korean series Squid Game saw 142m households viewing it in the first four weeks. The firm’s already on the lookout for new expansion areas as it’s begun testing out content-blended games in select markets.
why it matters
Netflix is competing against other social media tech platforms in terms of grabbing users’ attention — during the infamous recent Facebook (FB) outage, for instance, Netflix saw a 14% increase in user engagement. The streaming platform’s stock has been up by 22.8% over the past 6 months.