This is a first. Netflix is reporting its international business operating results by region. In a filing with the Securities and Exchange Commission, Netflix shared its streaming revenue and membership info for the US and Canada; Europe, Middle East and Africa; Asia-Pacific and Latin America. This is the first time they have reported subscriber stats by region.
Over half of Netflix’s massive 158 million global subscribers and 90 percent of its growth now comes from outside of the US. Since the first quarter of 2017, the European region has seen a 140 percent increase in subscribers. While the number of subscribers in the Asia-Pacific region has more than tripled in the same period of time, and Latin America now has 29.4 million subscribers, which is up from just 15.4 million in the first quarter of 2017.
Of course, no surprise that the US and Canada still have the most subscribers at 67.1 million, bringing in $7.4 billion in the first three quarters of 2019. However, membership only grew 23 percent from the first quarter of 2017 to the third quarter of 2019. Netflix also has competition from new streaming platforms, like Disney+, Apple TV+ and HBO Max. So growth may slow more. Which is why the global market is so important to the company.