At the height of its Korean original The Squid Game, the OTT platform surpassed Wall Street’s expectations and remains steadfast on its growth path.
Netflix presented its quarterly results corresponding to the third quarter of the year. And once again, the OTT platform exceeded Wall Street’s expectations and returned to growth.
According to the data released by the company, Netflix closed the third quarter with 214 million subscribers worldwide. Those are 4.38 million more than last quarter.
By region, Asia-Pacific was the one that added the most new clients, with 2.2 million. It was followed by Europe, the Middle East and Africa with 1.8 million.
Latin America, meanwhile, added 300,000 while the US and Canada added 70,000 between the two, a small number, but notably better than the 400,000 subscribers lost last quarter.
At the revenue level, Netflix announced a 16% growth over the same period last year, reaching US$ 7.48 billion.
According to the company, the good results are explained by the return to premiering original series normally after the halt caused by Covid.
“After having released less content during the first and second quarters due to production delays due to Covid, we are seeing the positive effects of a better slate in this second half of the year,” they commented.
So much so that according to their own estimates, the fourth quarter will add at least 8.5 million subscribers.