Netflix's Asia-Pacific business has biggest gains over the past three years

Netflix's Asia-Pacific business has biggest gains over the past three years

While Asia-Pacific is the smallest of the four sectors, it's experienced the most growth in the last three years, according to Netflix's filing.

Netflix is seeing rapid subscriber growth in regions including Asia and Latin America as it girds for tougher competition in the streaming market, newly detailed figures show.

Netflix is focusing on its global business as the streaming landscape becomes more crowded, with Walt Disney Co's Disney+ and Apple's Apple TV+ entering the market and two other services - HBO Max, from AT&T-owned WarnerMedia, and Comcast-owned NBCUniversal's Peacock - set to launch next year.

The US and Canada, meanwhile, continue to be the video-streaming platform's largest market in terms of subscribers.

This also explains Netflix's tireless attempts to woo India - one of the largest OTT entertainment markets in the world. This shouldn't be that bad as Netflix already has over 60 million domestic customers. Following closely behind, Netflix has 47.4 million subscribers in Europe, the Middle East, and Africa.

Latin America has 29.4 million subscribers (up 22% from the year before) posting $2.1 billion through nine months, dipping 3% in the average revenue per subscriber (up 12% when looking at constant currency).

According to the company's filings with the SEC, the Asia Pacific region, which includes India, South Korea, and Japan, was the fastest growing region for the company, with a total of 14 million subscribers - a number that's over three times the subscriber numbers Netflix had back in 2017. The two regions account for 30% of Netfilx subscribers. The average revenue for the company's European, Middle East, and African subscribers is $10.26. And lastly, the average subscriber in Latin America pays $8.21 per month. The region has seen a growth of 105 per cent compared to the same quarter two years prior. While it's possible Disney+ might prompt some Netflix subscribers to cancel, both services are so affordable that there's arguably enough room in the market for both to thrive.

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