How is Netflix net subscriber additions trending across regions?

October 14, 2022

Netflix is facing stalled subscriber growth with outsized pandemic demand returning to normal, coupled with fierce competition and macro headwinds. With Netflix striving to strengthen its content slate to recruit new users and keep subscribers engaged, our recent 3QTD (thru 8/31) gross adds and churns data suggest improvement from 2Q across all regions. 

Our 3QTD data shows positive net additions for all regions, with APAC being the standout region and LATAM the weakest. Our global viewership data also found that The Sandman and Extraordinary Attorney Woo driving strength and supporting gross additions in August.

UCAN improving, though LATAM weak 3QTD

Our 3QTD gross additions are pacing above the 2Q average in all regions, with the UCAN improvement in part driven by the release of Stranger Things Part 2 , Netflix’s best English series debut of all time, in early July. However, we saw LATAM net additions dip into red over the last two weeks of August with softened gross additions and elevated churn, following the price hikes in Argentina, putting 3QTD net adds down to just above breakeven. 

EMEA net adds returned to positive territory in August

Improving gross additions and churn in August pushed 3QTD EMEA net additions into positive territory, likely supported by the release of The Sandman and The Next 365 Days. Churn consistently slowed over August as churn rates in the UK, Poland and Italy normalized, ending August slightly above trough levels for the year.

APAC saw strong subscriber growth carry over into August

APAC 3QTD net additions remain firmly in positive territory with gross additions continuing to significantly outpace churn over August. Top 10 viewership lists in August have consistently seen APAC originals with high engagement, namely Extraordinary Attorney Woo S1, suggesting content strength may be a factor in supporting net additions.

Interested in learning more about Netflix’s gross adds, net adds, and churn trends? Connect with our analyst team.