Netflix released its Q3 earnings on Tuesday after market close. It reported a 4.4 million net subscriber growth for the quarter to a total of ~213.6 million paying subscribers. Revenue was reported at $7.48B, meeting analysts' predictions, a ~16% increase YoY. Net income came in at $1.45B, or $3.19 per share, over an 80% increase YoY.
- Netflix expects to add 8.5 million subscribers in Q4, which would bring the company's subscriber count to over 220 million.
- Due to COVID-19 delays in 2020, the company has a lot of content coming in Q4 2021 and is pacing its content releases into 2022.
- Netflix will start counting hours viewed as one of its metrics when evaluating the viewership of its content. It's a way to start giving proper credit to re-watched shows.
- Netflix reported Korean series Squid Game broke the company's household viewership record, with over 142 million member households worldwide having watched the show.
- According to a report by Bloomberg, Squid Game will generate about $900M in value for Netflix.
- On Wednesday, Netflix Trans employees and supporters staged a walkout to protest Dave Chappelle's comedy special "The Closer" on the streaming platform.