What Happened
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In a federal securities filing on Monday, Netflix, for the first time, has revealed its subscription data for operations outside the U.S. and Canada.” data-reactid=”20″>In a federal securities filing on Monday, Netflix, for the first time, has revealed its subscription data for operations outside the U.S. and Canada.
The new data shows that the streaming service has seen faster growth in regions outside of the U.S. in the period between 2017 and 2019.
Netflix’s subscription growth in Europe, the Middle East and Africa region has more than doubled since the first quarter of 2017, which makes that region the streaming company’s largest market outside of the U.S. and Canada, according to The Wall Street Journal.
The company’s subscriptions in those regions grew 140%, from 19.7 million in March 2017 to 47.4 million in September 2019. Revenue numbers during that period almost tripled to $4 billion.
Netflix grew from 15.4 million subscribers to 29.4 million subscribers during the same period in the Latin America region, which more than doubled the company’s revenues from the area to $2 billion.
Asia-Pacific region saw a threefold subscription growth from 4.7 million to 14.5 million and more than 100% revenue growth from $116 million to $1 billion during the same period.
Why It Matters
The increasingly competitive U.S. streaming market has slowed Netflix’s growth in recent months.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The company said in October that it is serious competition for the first time since it started streaming more than a decade ago.” data-reactid=”28″>The company said in October that it is serious competition for the first time since it started streaming more than a decade ago.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Netflix also lowered its subscriber growth projection for the fourth quarter of 2019, as competition loomed from rival companies like Apple Inc. (NASDAQ: AAPL) and Walt Disney Co (NYSE: DIS).” data-reactid=”29″>Netflix also lowered its subscriber growth projection for the fourth quarter of 2019, as competition loomed from rival companies like Apple Inc. (NASDAQ: AAPL) and Walt Disney Co (NYSE: DIS).
The new data on overseas growth could help Nexflix persuade Wall Street to focus on its growth outside of the highly competitive U.S. market, according to The Wall Street Journal.
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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”37″>© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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