Netflix added 4.4 million paid memberships in Q3 2021, above its 3.5 million forecast, while revenue reached $7.48 billion. The Wall Street Journal reported the results.
Squid Game made the quarter feel like proof that one global hit can travel without an English-language remake. I wouldn’t give one show all the credit for subscriber growth, though. The question for Netflix was whether it could keep producing hits across markets often enough to justify the content bill. One breakout series is a great advertisement and a poor operating model.