Netflix (File photo)
ISTANBUL –American streaming service Netflix revenues rose 3.8 percent year-on-year, according to the company as it also reported that most of its subscribers during the first three months of 2023 came from the Asia Pacific region.
The company had 1.46 million paid net additions in Asia-Pacific during the January-March period, Netflix said.
And while subscription increased in the Asia Pacific, it lost 45 million subscribers in Latin America alone.
The number of paid memberships increased to 232.5 million -- up by 1.75 million compared to the 230.75 million posted during the fourth quarter of 2022.
The online streaming platform saw its revenue increase to $8.2 billion in the first three months of the year, up from $7.9 billion during the same period in 2022.
Net income, on the other hand, fell nearly 19 percent to $1.3 billion, from 1.6%, during that period.
The company also announced that it has decided to end its DVD rental business which originally launched the firm in 1997 by selling or renting movies by mail.
"DVD paved the way for streaming, ensuring that so much of what we started will continue long into the future," said the statement. "So we want to go out on a high, and will be shipping our final DVDs on September 29, 2023." (Anadolu)
