Netflix reports in quarterly financial results that 'it got 4.4 million new subscribers, which is about twice the number of the same period last year,' and forecasts '8.8 million' in the next quarter
Netflix, the largest streaming service, announced its third quarter 2021 results. In the same quarter, the number of paying members increased by 4.4 million, almost double the same period of the previous year, but the growth of paying members accelerated further as the content that had been postponed by the global pandemic was released one after another. , The next quarter, the fourth quarter of 2021, is expected to reach '8.8 million'.
FINAL-Q3-21-Shareholder-Letter.pdf
(PDF file)
Netflix (NFLX) Q3 2021 earnings
https://www.cnbc.com/2021/10/19/netflix-nflx-q3-2021-earnings.html
Netflix Earnings Results: Q3 2021 --The New York Times
https://www.nytimes.com/2021/10/19/business/media/netlix-earnings-q3-2021.html
Below is a financial summary released by Netflix. The column with a different background color is the results for the third quarter of 2021 announced this time.
In the third quarter of 2021, Netflix generated $ 7,483 million in revenue, up 16% year-on-year, and $ 1,755 million, up 33% year-on-year. Record operating profit. The number of paying members increased by 2.2 million in the same period of the previous year, but increased by 4.38 million this quarter, doubling the rate of increase of paying members in one year. With this record increase in new subscribers, the total number of paying members has reached 213.56 million, and the company said, 'In the fourth quarter of 2021, which is the end of the year, we will provide the most powerful content to date. I'm very excited to be able to do it, 'he wrote.
As mentioned above, Netflix reported record high revenue, but the company predicts that the increase in paying members, which was 'double in one year', will accelerate further and 'double in the next quarter'. doing. This forecast is supported by the company's content 'Pandemic Postponement', which was postponed due to the impact of the new coronavirus infection in the fourth quarter of 2021. It is expected that the number of new subscribers will increase more than ever. In response to this further acceleration of the increase in new subscribers, the company generated revenue of $ 7.712 billion in the fourth quarter of 2021, but was affected by the delay in the release schedule of large-scale content. As a result, we forecast that operating income will drop to 500 million dollars (about 57.3 billion yen).
In this announcement, Netflix talked about the Korean drama 'Squid Game' 'It became the biggest TV show in Netflix history.' 'In the four weeks immediately after the announcement, 142 million households played at least the first two minutes of the squid game. It's amazing to watch it. '
Netflix's drama 'Squid Game' is so popular that the traffic in South Korea has exploded, and the telecommunications company has filed a lawsuit against Netflix to pay the usage amount --GIGAZINE
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