Netflix exceeded forecasts by adding nearly 9 million global subscribers in Q3 2022, even as it raised prices in several major markets including the US, UK and France. The streaming giant’s stock soared on the better-than-expected 13% user growth.
Analysts predicted Netflix would add only 6 million subscribers for the quarter. The gains showed the platform is still thriving despite labor disputes that have halted much US production.
Thanks to its broad global content investments, Netflix can draw viewers in unaffected international markets during Hollywood shutdowns. For example, Japanese series “One Piece” found worldwide success this quarter.
Long-Running Shows Also Drove Viewership
In addition to fresh international titles, Netflix pointed to surging interest in back catalog shows like “Suits” and “Band of Brothers” that provided new value from licensed content.
Co-CEO Ted Sarandos said Netflix’s programming depth helped weather unpredictable production interruptions. He expressed commitment to resolving ongoing writer and actor strikes.
Price Hikes Target Key Markets
Alongside its earning report, Netflix unveiled price hikes to premium plans in the US, UK and France. The US tier rose $3 to $22.99, UK £2 to £17.99, and France €2 to €19.99.
Analyst Paolo Pescatore said the subscriber growth and price bumps show opportunities ahead as Netflix cracks down on password sharing and explores ads. Investors welcomed the news, sending Netflix stock up 15% after hours.
Global Reach Drives Growth
Notably, Netflix saw almost 4 million new EMEA subscribers, reinforcing its global scale. Over 70% of its now 247 million total members are outside the US.
Netflix said it continues dominating viewing time, second only to YouTube. Its content appeals to worldwide audiences, reducing reliance on any single market.
While production hurdles persist, Netflix’s range of international and classic content is driving its resilience. Pricing power and global scale reinforce its position as audiences seek streaming variety.
