Netflix's Asia-Pacific Business Recorded Biggest Gains Over the Past Three Years |
Streaming giant Netflix is accelerating its growth overseas, with the Asia-Pacific business registering the largest membership and revenue gains in all regions over the past three years. In an 8-K filed on Monday, the company provided details on its international business ahead of its January fourth-quarter earnings report, which would reveal revenue and membership by region for the first time.
Netflix provided a benchmark for investors, issuing historical streaming revenue, subscription and average revenue to pay streaming subscriptions by region for each quarter of 2017 and 2018; For the first three quarters of 2019; And for the twelve-month period ended on December 31, 2017, and 2018 and the nine-month period ended on September 30, 2019.
In the Asia-Pacific region - the company's smallest - revenue was 153 per cent from the end of the third quarter of 2017 to the end of the third quarter of 2019. Membership grew 148 per cent in this period.
Development also took place in Europe, the Middle East and Africa. From the end of the third quarter of 2017 to the end of the third quarter of 2019, membership in the region increased by 132 per cent, and membership revenue increased by 105 per cent over the period.
In Latin America, where the company says it accounts for 33 per cent of broadband homes, streaming revenue grew 71 per cent from the end of the third quarter of 2017 to the end of the third quarter of 2019. Membership grew 61 per cent in this period.
Netflix is focusing on its international business as the streaming landscape becomes more crowded, with Walt Disney's Disney + and Apple's TV + entering the market and two other services - HBO Max, AT&T-owned WarnerMedia and Comcast Owned by NBCUniversal are set to launch from Peacock. Next year.
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