A scene from the popular Netflix series ‘Squid Game.’
Photo:
Youngkyu Park/Associated Press
Netflix Inc.
NFLX 0.16%
added 4.4 million memberships in the third quarter, more than the company had forecast, as viewers flocked to the streaming platform with the return of popular series and new hits such as “Squid Game.”
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The new additions bring Netflix’s total paid global subscriber base to 213.6 million. The company had forecast that it would add 3.5 million memberships in the three-month period.
Typically, the summer months tend to be slower in regards to subscriber additions. In last year’s third quarter, Netflix added 2.2 million subscribers, just missing expectations. At that time, the company said the big gains in subscribers it had seen during the Covid-19 lockdown were beginning to wane.
In recent weeks, Netflix has benefited from the success of “Squid Game,” the South Korean dystopian drama that made its debut last month and quickly became a global phenomenon. The series has gone viral with social platforms like TikTok showing videos of people replicating the children’s games, while online retailers are rushing to sell “Squid Game” Halloween costumes.
Write to Kimberly Chin at [email protected] and Joe Flint at [email protected]
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