AsiaPac Boosts Netflix Subs Base

Netflix ended the third quarter with 213.6 million subscribers, adding 4.4 million members in the period, half of which came from the Asia Pacific.

The global streaming giant delivered Q3 revenues of $7.5 billion, a 16 percent gain, with a net income of $1.45 billion. It is projecting Q4 2021 revenues of $7.7 billion, a 16.1 percent year-on-year gain. The company expects to add 8.5 million subs in Q4 to hit 222.1 million.

Key returning shows in the quarter included season five of La Casa de Papel (Money Heist), viewed by 69 million member homes, and season three of Sex Education, watched by 55 million member households. Meanwhile, Squid Game has become the platform’s biggest TV show, having been viewed in a whopping 142 million member homes. Netflix is shifting how it tracks performance later in the year and will report engagement as hours viewed rather than the number of homes viewing.

The U.S. and Canada region remains Netflix’s biggest with $3.3 billion in revenues at 74 million paid memberships, a slight gain on Q2. EMEA revenues were up to $2.4 billion from 70.5 million subs, a gain of 1.8 million. Latin American revenues rose to $915 million from 39 million subs, up from 38.7 million in Q2. AsiaPac revenues grew to $834 million from 30.05 million customers, reflecting a gain of 2.2 million members.