The third quarter of the current year has been a very positive period for Netflix in Latin America, according to the company’s financial report. The number of subscribers in the region totaled 39.94 million as of the close of Q3, which is tantamount to a 0.8% increase with roughly 312,000 more customers. The streaming giant’s previous peak had been 39.96 million in Q4 2021.
For Netflix, Q3 was the second quarter of positive growth in a row in Latin America, following a period of negative growth in Q1 2022.
On a global scale, Netflix sub count grew after two periods of decrease in a row. The OTT closed Q3 2022 with 223.09 million customers, with a 1.1% quarterly growth.
When it released its financial report, Netflix announced that it would cease to offer subscriber count forecasts as from Q4 2022. Company executives explained the reason: “We are increasingly focused on revenue as our primary top line metric. This will become particularly important heading into 2023 as we develop new revenue streams like advertising and paid sharing, where membership is just one component of our revenue growth.” The company will go on offering forecasts of other variables such as revenue, operating income and net income.
At the same time, Netflix noted that its focus would be placed again on premiering all the chapters of its original series simultaneously. Although the company stuck to that strategy in its early years, it began to alternate it with the chapter-by-chapter release format later. “We think our bingeable release model helps drive substantial engagement, especially for newer titles. We believe the ability for our members to immerse themselves in a story from start to finish increases their enjoyment but also their likelihood to tell their friends, which then means more people watch, join and stay with Netflix,” said Netflix executives.