Scene from “Squid Recreation” by Netflix
It might appear to be each American you already know has watched “Squid Recreation,” however the present’s reputation has not but created a surge of recent Netflix subscribers within the U.S.
142 million Netflix subscribers have seen no less than two minutes of the wildly well-liked South Korean drama, Netflix revealed in its shareholder letter Tuesday. That is precisely two-thirds of the corporate’s 213 million international prospects.
However whereas Netflix gained 4.4 million web subscribers within the third quarter, topping common analyst estimates of three.5 million, the expansion did not come from the U.S. or Canada. Netflix added simply 70,000 customers from the area within the quarter.
It is turning into clear that Netflix’s development has stalled within the U.S. and Canada. Netflix has added lower than a million subscribers within the area up to now 12 months. That is a part of the explanation why Netflix is starting to dabble in video games. It is going to be fascinating to see if Netflix does something stunning within the coming months to jumpstart development within the U.S. and Canada, or if it is content material with its development plateau within the area so long as it is nonetheless charging forward internationally.
The corporate’s 74 million U.S. and Canada subscribers additionally serves a de facto ceiling for Netflix’s streaming competitors. Netflix nonetheless dominates Disney+, Hulu, AT&T‘s HBO Max, NBCUniversal‘s Peacock and different, newer streaming providers when it comes to total subscribers. Cowen & Co. revealed survey outcomes earlier this month in a be aware to shoppers that confirmed 25% of respondents stated they used Netflix greater than another video service — together with customary cable and broadcast TV. That dwarfed different subscription streaming providers. Amazon Prime Video was the subsequent highest at 7.3%.
If “Squid Recreation” cannot herald hundreds of thousands of recent subscribers, it is honest to surprise if any new content material can actually transfer the needle within the area.
Disclosure: Comcast’s NBCUniversal is the father or mother firm of each CNBC and the Peacock streaming service.
https://www.cnbc.com/2021/10/19/squid-game-watched-by-two-thirds-of-netflix-users-few-new-us-subs.html | ‘Squid Recreation’ watched by two-thirds of Netflix customers, few new U.S. subs