"Squid Game" boosts new Subscription to Netflix, adding 4.38 million subscribers from July to September

 ‘Squid Game’ frenzy lures new subscribers to Netflix

The streaming giant topped estimates, adding 4.38 million subscribers from July to September. Netflix’s worldwide viewership is now 213.6 million.

Global interest in Netflix Inc's Korean thriller Squid Game has attracted new customers than expected in the last quarter, boosting the world's largest broadcasting service shares by 3 percent on Tuesday.

After a dramatic decline in the first half of the year, Netflix added 4.38 million subscribers from July to September to a total of 213.6 million. Wall Street analysts had identified 3.86 million new customers, according to Refinitiv data.

Netflix enjoyed a subscription subscription last year as COVID-19 keeps audiences at home, but growth has stopped in the first half of 2021. At the same time, competitors including Walt Disney Co's Disney + and AT&T Inc's HBO Max have strengthened their offerings. Netflix has in part blamed the first weakness of this year for the slowdown in the new system caused by the closure of production during the epidemic.

After that, the Squid Game debuted on September 17 and surprised management by having a real series of broadcast services in its first month, according to the company.
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A black drama tells the story of people competing in a deadly competition to clear a debt. The series has released Netflix viewing charts in many countries, the first sale of tracksuits and Vans sneakers, and aroused interest in learning Korean.

The excitement surrounding the Squid Game is also expected to boost the current quarter. Netflix has reported that it will pick up 8.5 million new customers by the end of the year, ahead of the industry's 8.33 million forecast, as the pace of new releases accelerates. Upcoming debuts include a major budget action Flick Red Season and the second season of the Dream Witcher drama.

In the last quarter of September, revenues cleared per share to $ 3.19 while revenue increased by 16 percent to $ 7.5bn.

Prior to the revenue report, Netflix shares had risen nearly 22 percent this year and were trading near the top record, but their profits lagged behind the Nasdaq 54 percent increase.