Netflix is doing what it has never done before, which is reporting its international business operating results by region. In a filing that was lodged with the Securities and Exchange Commission (SEC), Netflix shared its service revenue and membership information for the US and Canada; Europe, Middle East and Africa; Asia-Pacific and Latin America.
The streaming service choice to shared its earnings data reveals how important markets outside the US have become, most especially as Netflix faces new competitors like Disney+ and the rest.
According to Deadline, more than half of Netflix’s 158 million worldwide subscribers and 90 percent of its growth currently come from outside the United States. From early 2017, the European region has experience a 140 percent increase in subscribers.
At the same time, the number of subscribers in the Asia-Pacific region has grown more than tripled. Currently, Latin America now has 29.4 million subscribers, up from just 15.4 million in the first quarter of 2017.
Although US and Canada still records the highest subscribers, 67.1 million, a number that brought in $7.4 billion in the first three quarters of 2019. But membership only grew 23 percent from the first quarter of 2017 to the third quarter of 2019.
With the emergence of streaming platforms like Disney+, Apple TV+ and HBO Max, Netflix growth may not be as fast as it was when it was the major one only. The ctreaming platforms could cause slow down growth mainly in the US and Canada where Netflix was doing excellently well previously, so Netflix may be targeting overseas going forward.