Netflix Tops 214 Million Subscribers Worldwide, Beating Q3 Estimates

Netflix has done it again. The streaming giant announced their 2021 Q3 numbers today, beating forecasts for their subscriber growth made by both Wall Street and themselves. In the third quarter, Netflix added 4.38 million subscribers, reaching a total of around 214 million subscribers worldwide.

For the period ending in September, revenue for the streamer matched estimates, rising 16 percent year-over-year to a whopping $7.48 billion. Thanks to a successful Q3, Netflix is predicting a hearty 8.5 million subscribers to reach 222 million global subscribers by the end of the year.

“After a lighter-than-normal content slate in Q1 and Q2 due to Covid-related production delays in 2020, we are seeing the positive effects of a stronger slate in the second half of the year,” the company wrote in its quarterly letter to shareholders.

Netflix originally predicted they’d only add 3.5 million subscribers in Q3, a sharp decrease from their actual numbers. In the second quarter of the year, Netflix only signed up 1.54 million new subscribers due to a lack of grabby new series akin to Bridgerton or Tiger King.

But in mid-September, the streamer released the explosively popular Squid Game, which has become the biggest show in the streamer’s history, raking in 111 million households in just its first month. Today, Netflix released the news that over 30 million more households have viewed the series, landing at a “mind-boggling” 142MM households in total. Netflix co-CEO Reed Hastings paid tribute to the breakout South Korean hit with his choice of wardrobe.

Netflix is facing a boatload of competition thanks to major competitors like Disney+ and HBO Max. In fact, it was recently reported Disney+ is forecasted to overtake Netflix in global subscribers by just 2026. Today’s shareholder letter did not name any specific companies but acknowledged the rise in competition with “a staggeringly large set of activities for consumers’ time and attention.”

Today’s shareholder letter had a glaring omission, with no mention at all of tomorrow’s walk-out being planned by Netflix employees. The company is currently under fire for releasing Dave Chappelle’s most recent comedy special The Closer, which includes controversial language about the trans community. Since the release, co-CEO Ted Sarandos has released two statements to employees on the matter — but employees (alongside celebs) still plan on walking out tomorrow.