Netflix Reveals 29 Million Customers in Latin America
Netflix has gained 10 million customers in the Latin America in the last seven seasons; turnover reached $ 2 billion in nine months.
The report shows that in the nine months to September 2019 the company had half of its total US $ 14.5 billion in revenue from the United States. The second largest market is Europe, with revenue of $ 4 billion in nine months, followed by Latin America, with $ 2 billion, and Asia, with $ 1 billion – a show of the size of the opportunity in countries like China, Japan and India.
The United States accounted for only 42% of the company’s 157 million subscribers (67 million people). Another 47 million subscribers were in Europe and 29 million in Latin America, the region with the cheapest average monthly subscription of all ($ 8.21). At the end of 2018, Latin America had 26 million subscribers; and by the end of 2017, 19 million. In other words, Netflix gained 10 million new subscribers in the region in seven quarters.
Maintaining growth is not only Netflix’s effort – the company already has a third of Latin Americans with broadband access as customers, according to Bloomberg. The advance of high-speed internet depends on increasing purchasing power in a region that is growing below the global average, but also on government decisions. In Brazil, the auction for the adoption of 5G internet, scheduled for next year, is expected to be in 2021. In Argentina, the new government of Alberto Fernandez announced, a few days after taking over, the increase in taxes for spending abroad that should impact streaming services like Netflix and Spotify from music.