Business

Netflix hits striking growth in regions like Latin America, but misses subscribers in the US

The Q4 earnings report of the streaming giant revealed an increase of more than 300% on earnings

In a market of ever-growing competition, the streaming leader Netflix has produced good results as disclosed by the company’s Q4 report, published this Tuesday, January 21, after the markets closed. Adding impressive 8.76 million paid subscribers globally – of which 8.33 million subscribers came from outside the US – in the last quarter of 2019, Netflix has largely surpassed its own expectations and the market forecast.

Regarding earnings, the streaming giant has also beaten Wall Street estimations that were expecting $5.45 billion, and reached $5.47 billion, which has also exceeded the expectations of the company itself. 

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According to Business Insider, Netflix said it added more quarterly paid net subscribers than ever before in every region – Europe, the Middle East, and Africa; Latin America; and Asia-Pacific – except for the US and Canada. But although the company has crushed experts forecasts with such great results, in the US – where competition is gaining ground with the arrival of Disney+, Apple TV+ and upcoming Peacock and HBOMax, Stranger Thing’s parent company did not perform as expected. Netflix has added 420,000 paid subscribers in the US, against Wall Street forecast of 602,250 and their own expectation of 600,000.

Currently, the major part of the company’s subscriber growth doesn’t come from the US, and Netflix has 106 million paid subscribers internationally.