Miguel Cordon · · 1 min readNetflix adds 1.8m Asia-Pacific subscribers in latest quarter
Global streaming titan Netflix said it added 1.8 million subscribers from the Asia Pacific in Q4 2022.
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However, the company said that its average revenue per membership fell 17% to US$7.69 in the region in FYE2022 .
Last November, it launched a lower-priced, ad-supported plan in 12 markets, including Australia, Japan, and South Korea.
Netflix said that in 2022, it had a total of 231 million paid memberships, generating US$32 billion in revenue. The US$7.8 billion in revenue for Q4 exceeded its initial projections.
Netflix also announced the transition of Reed Hastings, the company’s co-CEO, to executive chair. In his place, Greg Peters has been promoted from COO to co-CEO.
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The company also added that it would continue developing additional revenue streams “where membership is just one component of our growth.” Notably, Netflix said it has built a portfolio of 50 games and acquired four game studios this past year to strengthen internal production capabilities.
Editing by Thu Huong Le and Arpit Nayak
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