Streaming market leader
Netflix is growing stronger again thanks to series such as “Squid Game”
A scene from season 1 of the Netflix series “The Squid Game”. Photo: YOUNGKYU PARK / Netflix / dpa
© dpa-infocom GmbH
Netflix is on the rise: The number of subscribers worldwide is increasing – and the net profit is also impressive. This is primarily due to the series hits from the streaming market leader.
Thanks to series hits such as “Money Heist”, “Sex Education” and “Squid Game”, the streaming market leader Netflix posted increased user growth again in the summer.
In the third quarter, the number of subscribers worldwide rose by 4.4 million to just under 214 million, as the company announced on Tuesday after the US market closed in Los Gatos. Netflix clearly exceeded its own forecast of 3.5 million new customers. After the trading hours, the share initially reacted with slight price increases.
The financial results were also impressive. Net profit rose in the three months to the end of September compared to the previous year by over 80 percent to 1.45 billion dollars (1.25 billion euros). Revenues grew 16 percent to $ 7.5 billion.
After the pandemic paralyzed production and user growth in the previous quarters, Netflix is promising its strongest offering of films and series to date at the end of the year. The streaming giant expects around 8.5 million new customers in the final quarter.