LOS GATOS, Calif. — Following a dip in subscribers in the previous quarter, Netflix reported yesterday 70,000 net additions to its paid memberships in the U.S.-Canada (UCAN) region for the third quarter of 2021 as the company released its financial results for the three months ended Sept. 30, 2021.
That brings Netflix’s paid subscriber total in the UCAN region back over 74 million, a milestone it first achieved two quarters ago.
Globally, Netflix reported 4.4 million paid net additions in Q3 2021, bringing its total number of subscribers to 214 million. Half of the total paid net adds (2.2 million) came from the APAC region, while the EMEA region accounted for 1.8 million net adds during the quarter.
“The UCAN and LATAM regions grew paid memberships more slowly. These regions have higher penetration of broadband homes although we believe we still have ample runway for growth as we continue to improve our service,” reads Netflix’s letter to its shareholders outlining the company’s third quarter results.
For the UCAN region, Netflix reported US$3.3 billion in revenue in Q3 2021, compared to US$2.9 billion in Q3 2020. Average revenue per membership was US$14.68, up 10% year-over-year from Q3 2020.
On a global basis, Netflix achieved US$7.5 billion in revenue in the third quarter of 2021, representing a 16.3% increase over the US$6.4 billion in revenue the company reported in Q3 2020.
The company’s operating income in Q3 2021 was US$1.8 billion, compared to US$1.3 billion in Q3 2020, a 33% y-o-y increase. Net income for the third quarter of 2021 was US$1.4 billion, compared to US$790 million in Q3 2020.
To access Netflix’s Q3 2021 financial statements and the letter to its shareholders, please click here.
Chart borrowed from Netflix’s letter to shareholders.
