Netflix surpassed forecast in every market it operates in outside US & Canada — adding 8.3 million subscribers internationally, much higher than the forecast of 7 million. Competition finally showed impact and Netflix acknowledged it: the service managed 550,000 new subscribers in the US & Canada, much lower than its forecast of 600,000 new subscribers. Netflix said the miss is because of competition and "recent price changes". The Big Picture: The company added 8.76 subscribers globally, which it said was driven by original programming and worldwide adoption of streaming video. Revenue grew 31% YoY to $5.4 billion. Of Netflix's 167 million subscribers worldwide, 100 million of them are outside the US. This comes amidst the so-called "streaming wars" — the launch of two major streaming service, Disney+ and Apple TV+, and two more coming this year; WarnerMedia's HBOMax and NBCUniversal's Peacock. Impact of competitive launches outside the US, in Netherlands, Canada, and Australia was muted, it said. Subscriber galore worldwide, just not US & Canada: Netflix got a record number of subscribers in Europe, Middle East, and Africa (EMEA), Latin America, and Asia-Pacific. Netflix's largest subscriber base outside the US is EMEA (Europe, Middle East, Africa) with 52 million subscribers, Latin America with 31 million, and APAC with 16 million subscribers. Interestingly, subscriber adds were highest over last quarter in APAC at 12%, followed by EMEA at 9.3%, and Latin America at 7%. ARPU is the lowest in the APAC market at $9; Netflix also launched mobile-only plans in Malaysia…
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