Netflix has been a household name for well over a decade. The entertainment giant won our hearts early on by delivering movies to our mailboxes for a subscription price. That brought the ease of entertainment right to our doorsteps and decimated movie stores like Blockbuster. Then came streaming. Netflix almost singlehandedly built the concept of streaming movies directly to our homes, computers, phones, and just about any device with an internet connection. That cemented its place in the annals of entertainment history.
Five years ago it appeared that nothing could stop the company. It seemed as though they had the hottest titles of the entire industry, then they broke the mold again by creating Netflix original series and movies. It seemed like a win-win situation. They had the fan base, the money, and the clout to pull off virtually any project they wanted. There were waiting lists a mile long to even get the ear of the company let alone convince them to work on a project for you.
Now in 2019 the network is reducing the titles available and cutting their original programming way back. What could have caused this? The answer to that is simple. Companies that had once had agreements with Netflix to carry their titles have decided to pull their material and start their own streaming services. This does not bode well for the company that started what seemed like a revolution. Could this be the end of Netflix?
Hardly, believe it or not, the company has made up its U.S. shortfall by cornering different markets overseas. A report released yesterday about a month ahead of the quarterly earnings reveal indicates that there has been impressive growth. This is welcome news for investors, shareholders, and customers. Marketing their products outside of the U.S. has proven to be greatly successful because the domestic market is saturated.
By the numbers, it appears that in the Asia-Pacific region – the company’s smallest – revenue was up 153% from the end of the third quarter of 2017 to the end of the third quarter of 2019. Membership grew 148% in the period. Growth in Europe, the Middle East, and Africa also accelerated. Membership in the region increased 132% from the end of the third quarter of 2017 to the end of the third quarter of 2019, and membership revenue increased 105% in the period. Growth in Latin Americ is also way up as the company claims to have services in 33% of homes.