Netflix reveals Asia to be biggest growth market since 2017

Reed Hastings

Netflix’s Asia business has been its biggest area of growth after the past three years.

Details of its regional businesses were revealed in a regulatory filing, ahead of its Q4 results. The company will also disclose revenue and membership by region for the first time in this set of results.

Though the Asia-Pacific region is its smallest, Netflix saw revenue increase by 152% between the third quarters of 2017 and 2019. Membership grew by 148%.

EMEA saw a smaller percentage of growth, but it is a larger market for Netflix. Membership over the three-year period increased by 132% while revenue increased by 105%.

Netflix’s other non-US regional market – Latin America – saw revenues increase by 71% and membership grow by 61% across the same two-year period. Netflix added that it is in 33% of broadband homes in the region.

With reports claiming that it could lose 4 million US subscribers in the coming year, Netflix has recently continued to extend its investment in foreign markets.

The non-US market is a vital area of growth for Netflix CEO Reed Hastings, who recently said that the company plans to spend INR30bn ($430m) on producing and licencing content for the Indian market next year. It has also signed a three-year production and distribution agreement with leading South Korean producer/broadcaster CJ ENM.