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American streaming platform Netflix will premiere a new comedy special called ‘Vir Das Landing’ on 26 December.
Netflix added nearly 2.4 million global subscribers in the September quarter, far higher than its estimates of 1 million. However, it pales compared to the 4.4 million it had added in the year-ago quarter. In the Asia-Pacific Region alone Netflix added 1.43 million new paying users.
Its revenue grew 19% (from $834 million to $889 million) in Q3, excluding foreign exchange, with average paid membership rising 23% (from 30.05 million to 36.23 million) year-on-year. Average revenue per member (ARM) was, however, was down 3%, partially driven by lower ARM in India, it said in a letter to shareholders. It clocked higher ARM in Australia and Korea.
“We’re done with shrinking quarters…we’re back to positivity. Everything the company is focusing on, whether on content, marketing, lowering prices for the ad supported model, paid sharing..lines us up for a good next year,“ Reed Hastings, co-chief executive officer, Netflix had said during the earnings call.
A strong dollar is a significant headwind, and the company is expecting revenue of $7.8 billion in the next quarter compared with $7.9 billion in July-September. The sequential decline was entirely due to the continued strengthening of the US dollar against other currencies, Hastings had said. “That’s not going to go away. But other than that, all the stars are lining up very well for us.“
To be sure, Netflix may even consider increasing its $17…
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