Monday, August 8, 2022

Netflix Just Broke A New Streaming Record

It’s not surprising to know that Netflix is one of the world’s leading streaming services. TechCrunch reports that this November the company broke its own record on mobile users, pulling an estimated $86.8 million in worldwide consumer spending across Android and iOS apps. In comparison, last November Netflix generated $49 million, showing a 77 percent increase in just one year.

Netflix’s previous record was held at $84.7 million, which they established on July 2018. Even though there are no clear explanations as to why Netflix is suddenly experiencing such a boost, experts believe that their increased viewership is due to Netflix providing more original content that appeals to international audiences.

An analysis conducted by Sensor Tower reports that viewership in foreign countries like Germany, Brazil, and South Korea has grown dramatically over the past year, by 90, 94, and 107 percent respectively. Although U.S. viewers still make up most of Netflix’s audience, accounting for 57 percent of the company’s revenue, the company’s share is declining and will continue to do so as long as they keep expanding.

Other reasons as to why Netflix is pulling more money are also due to a current shift towards streaming services and a disregard for cable networks and TV providers.

Netflix is planning on experimenting with different subscription plans and on developing a cheaper model that only runs on mobile. This new plan would be much more affordable and marketable in countries located around Asia, where there are much cheaper alternatives.

“We are testing to understand consumer interest in a mobile-only plan in some countries. Generally, we try out lots of new ideas at any given time, and they can vary in how long they last and who sees them. We may not ever roll out the features or elements included in a test,” Netflix told Quartz.

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