After a couple of painful quarters of subscriber loss, Netflix has made good on its promises to rebound. The streaming service brought in 2.4 million new subscribers in the last quarter, after losing one million in the prior quarter and 200,000 before that.
Its earnings report today reveals that just over half of those gains (1.4 million) came from the Asia-Pacific region, though all tracked segments (United States and Canada; Europe, Middle East, and Africa; and Latin America) saw growth compared to last quarter.
It’s an even larger increase than the one million subscriber rise the company predicted last quarter, but still down from the 2.2 million subscriber lift the company said this time last year, though.
Netflix attributes its growth in part to its “bingeable release model” for newer releases, specifically pointing at the success of Monster: The Jeffrey Dahmer Story, which brought in 824 million viewership hours. Stranger Things season four saw 1.35 billion hours viewed.
Also in its results, Netflix gave a small update on its gaming segment, where it mentioned it has 55 more video games in development for its platform, including more based on Netflix IP. Netflix specifically cites how Cyberpunk: Edgerunners resulted in an increase in people playing Cyberpunk 2077, indicating it wants to cash in on a similar relationship between shows and games within its own platforms.
All of this comes as Netflix prepares to at last issue its crackdown on account sharing. Its ad-supported tier is launching on November 3, and it’s currently testing a profile transfer feature to allow users to transfer history, saved games, lists, and other settings to another account if they choose to start their own membership. Its earnings report suggests its “thoughtful approach” to account sharing will begin to roll out more broadly in early 2023.
Netflix expects around 4.5 million new subscribers in the coming quarter, though it doesn’t seem to believe that its ad-supported tier will provide a meaningful segment of that surge.
Rebekah Valentine is a news reporter for IGN. You can find her on Twitter @duckvalentine.
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