Video streaming service Netflix recorded a rise in paying customers and double-digit revenue growth in Q3, driven by what it claimed was the best-performing exclusive content offering.
The company added 4.4 million new customers compared with 2.2 million in Q3 2020, taking its total paying user base to 214 million, up 9.4 per cent.
Netflix explained in an earnings statement half of its new subscribers came from Asia-Pacific followed by EMEA on 1.8 million “as several titles had a particularly strong impact”. A slowdown was noted in North and South America.
Net income grew from $790 million to $1.4 billion on revenue of $7.5 billion, 16 per cent higher.
Netflix attributed growth to hit titles including Squid Game, which notched views in 142 million households globally in the four weeks since its release on 17 September.
The company also highlighted the launch of a free mobile service for users in Kenya as a potential driver of future subscriptions.
Netflix predicted a strong finish to the year, citing its “strongest Q4 content offering yet”.Subscribe to our daily newsletter Back