Asian subscribers boost Netflix Q1 numbers | WARC | The Feed
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Asian subscribers boost Netflix Q1 numbers
Netflix reported a net total of 1.75 million new paid subscribers during the first three months of the year, with the great majority of that number coming from the APAC region.
By the numbers
- APAC added 1.46 million net new subscribers in Q1, 83% of the total, the streaming platform said in a note to shareholders. (Over the previous five quarters, 6.9 million, or 64%, came from Asia-Pacific, Fortune added.)
- North America added 100,000 net new subscribers during Q1 and EMEA 640,000; Latin America lost 450,000.
- North America remains the largest market by revenue, accounting for 44% of global revenue (APAC is just 11%), while EMEA is the largest by number of paid memberships (33% of the total, compared to APAC’s 17%).
Why it matters
As western markets mature, Netflix is looking to Asia for both subscriber growth and content (building on the success of the South Korean-made Squid Game and interest in Japanese anime). While there’s plenty of headroom, the region has the lowest revenue per membership across the service’s four regions: at $8.03 per subscriber in Asia-Pacific, it’s half that of the US and Canada.
The ad experience
Netflix reports that consumer engagement on its new ads tier is above initial expectations, and with little switching from its standard and premium plans. The ad-supported plan has a reputed 95% content parity globally (by viewing) with ads-free plans. The advertiser experience is also evolving with the launch of a programmatic private marketplace and partnerships to validate campaign engagement.
Sourced from Netflix, Fortune
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