Netflix’s Asia-Pacific business has biggest gains over the past three years


FILE PHOTO: The Netflix logo is seen on their office in Hollywood, Los Angeles, California, U.S. July 16, 2018. REUTERS/Lucy Nicholson

(Reuters) – Streaming giant Netflix (NFLX.O) is accelerating its growth overseas, with its Asia-Pacific business recording the biggest membership and revenue gains among 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 will disclose revenue and membership by region for the first time.

Netflix provided a benchmark for investors, releasing historical streaming revenue, membership and average revenue per paying streaming membership by region for each quarter of 2017 and 2018; for the first three quarters of 2019; and for the twelve-month periods ended Dec. 31, 2017 and 2018 and the nine-month period ended Sept. 30, 2019.

In the Asia-Pacific region – the company’s smallest – revenue was up 153% from the end of the third quarter of 2017 to the end of the third quarter of 2019. Membership grew 148% in the period.

Growth in Europe, the Middle East and Africa also accelerated. Membership in the region increased 132% from the end of the third quarter of 2017 to the end of the third quarter of 2019, and membership revenue increased 105% in the period.

In Latin America, where the company says it is in 33% of broadband homes, streaming revenue increased 71% from the end of the third quarter of 2017 to the end of the third quarter of 2019. Membership in the period grew 61%.

Netflix is focusing on its international business as the streaming landscape becomes more crowded, with Walt Disney Co’s (DIS.N) Disney+ and Apple’s (AAPL.O) Apple TV+ entering the market and two other services – HBO Max, from AT&T-owned (T.N) WarnerMedia, and Comcast-owned (CMCSA.O) NBCUniversal’s Peacock – set to launch next year.

Reporting by Helen Coster; Editing by Dan Grebler

Products You May Like

Articles You May Like

Prepare to study in Canada
Study permit: Who can apply
Canada Issues 2,500 Invitations to Apply (ITAs) for French Language Speakers
Quebec Expression Of Interest Draw: Province Issues 1,034 Canada Immigration Invitations
Ukrainians In Canada Getting Legal Help Through Trilingual Hotline
OINP Immigration Applicants Must Submit Application Consent Form
Canada Issues 1,470 Invitations to Apply (ITAs) Under All-Program Draw

Leave a Reply

Your email address will not be published. Required fields are marked *