Netflix: Growth thanks to hits like “Squid Game

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Thanks to series hits such as “Money Heist,” “Sex Education” and “Squid Game,” the streaming market leader Netflix has again recorded increased user growth in the summer. In the third quarter, the global number of subscribers increased by 4.4 million to just under 214 million, as the company announced yesterday after the U.S. stock exchange closed in Los Gatos. Netflix thus clearly exceeded its own forecast of 3.5 million new customers. The share initially reacted with slight price increases after trading hours.

The financial results were also impressive. Net income rose in the three months to the end of September compared to the previous year by more than 80 percent to 1.45 billion dollars (1.25 billion euros). Revenues grew 16 percent to $7.5 billion.

After the pandemic crippled production and user growth in previous quarters, Netflix is promising its strongest-ever lineup of movies and series at the end of the year. The streaming giant expects to add around 8.5 million new customers in the final quarter.

  • source: orf.at/picture:pixabay.com

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