After a sharp drop in subscriber numbers in the first half of 2021, Netflix added 4.38 million subscribers from July through September, bringing its subscribers to 213.6 million worldwide. Refinitiv data indicates that Wall Street analysts were expecting 3.86 million new subscribers.
Netflix had a huge increase in subscriptions last year when the Corona pandemic kept viewers at home, but growth stalled at the beginning of this year. At the same time, competing services such as Disney+, a subsidiary of The Walt Disney Company, HBO Max and others, increased their productions offered..
Netflix attributed the weakness at the beginning of the year in part to a lack of new supply as a result of the halt in television production during the pandemic.
Then came “The Squid Game” on September 17 and surprised company officials that it became the most-watched of the original productions in its first month. Netflix said on Tuesday that 142 million families had watched the TV show, which featured people competing in deadly games in pursuit of a prize that would enable them to pay their debts..
The series topped the lists of the most watched works on Netflix in 94 countries and sparked a passion for learning the Korean language.