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Netflix is ​​growing stronger again thanks to series like »Squid Game«

2021-10-19T22:58:23.062Z


Deadly children's games lure viewers: The South Korean hit series »Squid Game« brought many new subscribers to Netflix. The streaming provider was also doing well financially.


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Netflix Hollywood office

Photo: Lucy Nicholson / REUTERS

Thanks to the hit series "Squid Game", the streaming service Netflix recorded increased user growth again in the summer.

In the third quarter, the number of subscribers worldwide rose by 4.4 million to just under 214 million, as the company announced on Tuesday after the US market closed in Los Gatos.

Netflix clearly exceeded its own forecast of 3.5 million new customers.

After the trading hours, the share initially reacted with slight price increases.

Netflix is ​​assuming global user growth above expert expectations, partly because of the successful South Korean series.

The streaming service predicted an increase of 8.5 million paying customers for the current fourth quarter, while analysts assume 8.3 million.

Profit and revenue increase

The financial results were also impressive.

Net profit rose in the three months to the end of September compared to the previous year by over 80 percent to 1.45 billion dollars (1.25 billion euros).

Revenues grew 16 percent to $ 7.5 billion.

Squid Game was released towards the end of the third quarter.

It is about highly indebted people who take part in children's games with fatal outcomes in order to win the 45.6 billion won (33 million euros) prize money.

Netflix spoke on Tuesday of the largest series in the company's history.

The US company had attracted numerous viewers in front of the home screen during the corona lockdown with series such as "Bridgerton", "The Queen's Gambit" and "The Crown".

However, Netflix is ​​facing increasing competition from Disney +, Apple and Amazon, for example.

kfr / dpa / Reuters

Source: spiegel

All business articles on 2021-10-19

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