Netflix currently has 213.5 million subscribers globally, which includes the addition of 4.4 million new subscribers in the third quarter of 2021.
The figure topped Netflix and analysts' forecasts where they expected to have 222 million subscribers for the next quarter.
With this achievement, Netflix shares rose by 2%. Netflix's third-quarter profit was $1.4 billion, up from $790 million in the previous quarter. Netflix revenue jumped 16% to USD 7.4 billion.
This has not been an extraordinary quarter for Netflix, which has had much greater subscriber growth in the past. But after two sluggish quarters in a row, the third quarter shows Netflix is back on track.
In another report, Netflix reported that it added about 70,000 subscribers in the US and Canada, an increase from its second-quarter losses but only up about 1 million subscribers from last year's total in those countries.
The company still has about 74 million subscribers in the US and Canada, but the region has become so saturated that Netflix's growth has stalled there.
This is why the company has made a global expansion, with Netflix's biggest growth in the third quarter being in the Asia-Pacific region which accounts for about half of Netflix's profits.
Moreover, recently the production series Squid Game achieved great success. The popularity of the Squid Game series in various parts of the world continues to increase, which is currently considered the most popular on Netflix. The Squid Game's achievement was even unexpected by the Netflix boss.
"When we first started investing in Korean series and films in 2015, we wanted to create world-class stories for drama fans across Asia and the world," said Netflix's vice president of content for Korea, Southeast Asia, Australia and New Zealand, Minyoung. Kim, quoted from CNN, Thursday (10/21/2021).
"Today, Squid Game has surpassed our wildest dreams. Squid Game gives (Netflix) more confidence that our global strategy is headed in the right direction," he continued.
