Netflix “Squid Game” Scene
It may seem like every American you know has watched “Squid Game,” but the show’s popularity hasn’t increased new Netflix subscribers in the United States just yet.
Netflix said in a shareholder letter on Tuesday, 142 million Netflix subscribers watched a very popular Korean drama for at least two minutes. This is just two-thirds of the company’s 213 million global customers.
Although Netflix garnered 4.4 million net subscribers in the third quarter, surpassing the average analyst estimate of 3.5 million, its growth was not from the United States or Canada. Netflix added just 70,000 users from the region this quarter.
It is becoming clear that Netflix’s growth in the United States and Canada has stalled. Netflix has added less than 1 million subscribers to the region in the past 12 months. This is why Netflix is starting to play video games. It will be interesting to see whether Netflix will do amazing things in the coming months to accelerate growth in the US and Canada or if it will be happy with the stagnation of growth in the region, if it moves internationally. ..
The company’s 74 million US and Canadian subscribers are also actual caps on Netflix’s streaming competition. Netflix still dominates Disney+, Hulu, AT&T’s HBO Max, NBCUniversal’s Peacock and other new streaming services in terms of overall subscriber numbers. Cowen & Co., in a memo to its customers earlier this month, announced a survey that found that 25% of respondents use Netflix more than any other video service, including standard cable and broadcast TV. . It truncated other subscription streaming services. Amazon Prime Video was in second place with 7.3%.
If the “squid game” can’t attract millions of new subscribers, it’s natural to wonder if the new content can really move the needle in this area.
Disclosure: Comcast’s NBC Universal is the parent company of both CNBC and Peacock Streaming Services.
“Squid game” seen by two-thirds of Netflix users, some new US subscribers
Source link “Squid game” watched by two-thirds of Netflix users, some new US subscribers