Streaming Giant Netflix has reported billions in profits and massive subscriber growth as global hits like the Squid Game has drawn viewers in mass droves.
Now, market analysts, are worried that Netflix’s surge in subscriptions during the pandemic will be followed by a massive plunge in the post-pandemic world.
Netflix said that in the third quarter they had a profit of $1.45 billion with revenue that grew 16% to $7.5 billion in that quarter. New Netflix subscriptions also jumped by 4.4 million.
This is double the growth seen in the third quarter in 2020, allowing the streaming platform to end the period with 214 million subscriptions worldwide.
Netflix announced it would finish the year with the strongest Q4 content offering yet.
New seasons of the original Netflix series Sex Education and Money Heist have also been the biggest returning shows. They have been viewed by between 55 million and 69 million households.
Netflix Free speech controversy
South Korea’s Squid Game has become Netflix’s biggest show ever. The streaming series has been watched by a “staggering” 142 million viewers in the four weeks since its initial release in September. The Squid Game’s popularity is truly amazing; this show has been ranked as our #1 program in 94 countries, Netflix reported.
Now Squid Game-themed products were on their way to retail outlets for Christmas, Netflix told its investors.
The majority of Netflix’s subscriber growth in the third quarter came from the Asia-Pacific region. The Asia-Pacific accounted for 2.2 million additional Netflix subscribers.
However, Netflix has also been plunged into America’s cancel culture and wokeness over Dave Chappelle’s recent comedy special. Many people are concerned about the stifling of free speech and censorship from the far left’s cancel culture. Netflix has been slammed by its own employees as being transphobic for allowing Dave Chappelle’s comedy special to even air.
In his comedy special, Dave Chappelle addresses critics who accuse him of mocking transgender people because in the past he asserts that “gender is a fact” and accuses the LGBTQ community of being “overly sensitive.”
“In America, you can shoot and kill” a Black man, “but you’d best not hurt a gay person’s feelings,” Chappelle says.
While the show has been condemned by LGBTQ groups, Netflix has also far stood firm. Insisting the show will not be taken down by the cancel culture.
The woke community has placed Netflix at the center of its most intense controversy yet. Meanwhile, Dave Chappelle remains hugely popular, despite the woke’s attempts to cancel him.
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