Netflix Now Has 222 Million Paid Subscribers

Posted on January 20, 2022 by Paul Thurrott in Netflix with 5 Comments

As part of its latest quarterly report, video streaming Netflix reported that it now has over 222 million paying subscribers, up 9 percent year-over-year.

“We achieved several milestones in 2021: we had the biggest TV show of the year (Squid Game), our two biggest film releases of all time (Red Notice and Don’t Look Up) and Netflix was the most Emmy-winning and most-nominated TV network and the most Oscar-winning and nominated movie studio of 2021,” a Netflix letter to shareholders reads.

The firm earned a net income of $607 million on revenues of $7.7 billion for the quarter ending December 31; revenues were up 16 percent YOY. Netflix added 8.28 million new paying customers in the quarter, and 18.18 million in the past year.

It was a good quarter for original content, too, Netflix reported: New seasons of returning shows like The Witcher (484 million hours viewed ), You (468 million), Emily in Paris (287 million), and Cobra Kai (274 million) delivered strong results and Squid Game, with 1.65 billion hours viewed, is now its biggest-ever TV season. Netflix described the movie Red Notice as a blockbuster, noting that it “quickly became [its] most popular movie launch of all-time with 364 million hours viewed in just the first four weeks.”

Netflix also addressed its increasing competition in passing, noting that while the additional competition “may be affecting our marginal growth some,” Netflix “continues to grow in every country and region in which new streaming alternatives have launched. This reinforces our view that the greatest opportunity in entertainment is the transition from linear to streaming and that with under  10% of total TV screen time in the US, our biggest market, Netflix has tremendous room for growth if we can continue to improve our service.”

That said, Netflix’s subscriber numbers fell short of expectations and the firm’s current quarter outlook underwhelmed investors. Netflix shares fell over 10 percent in after-hours trading.

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Comments (5)

5 responses to “Netflix Now Has 222 Million Paid Subscribers”

  1. jdjan

    Subscriber count would be higher if they stopped raising prices every 15 minutes. Still - of all the streaming service offerings I tend to stick with Netflix, instead of dipping in and out like with the other services (HBO, Disney, Apple etc.).

  2. mike2thel73

    Apple TV+ is the best. For me quality over quantity.

    Netflix has some good stuff still but nothing like they had years ago. The Witcher is great but Netflix's movies still underwhelm and narcos (one of my most favorite series of all time) is finished. Cobra Kai is great but has 1 more season left.

    I saw red notice and don't look up. I thought both movies sucked.

    Also for those wondering, if I stopped paying for Netflix in 2019 how am I watching Netflix? I'm not the one paying. Even If I didn't have access from friends or family I still wouldn't pay for Netflix.

    Netflix = Too Much Filler

  3. whistlerpro

    This of course doesn't count the many millions of people sharing a subscription with a friend or family member.

  4. scovious

    Did you hear? Disney+ decided that Marvel and Star Wars were too big of IP to keep on just their platform and that content will soon show up on Netflix. Oh wait, that will never happen. I wonder if Call of Duty is as big as Marvel and Star Wars?

  5. datameister

    I wonder how many it will be next quarter after the latest price hike?

    I would expect Christmas to be a bigger time of year for subscribers anyway due to winter breaks for most broadcast networks and all the Christmas specials. I know I usually subscribe around October and then cancel in January. Then do it again for a couple months mid year. I don't know how many people might be like me though.