Netflix's Asia-Pacific business has biggest gains over the past three years

 Netflixs Asia-Pacific business has biggest gains over the past three years

By Helen Coster

(Reuters) - Streaming giant Netflix is accelerating its growth overseas, with its Asia-Pacific business recording the biggest membership and revenue gains among all regions over the past three years.

In an 8-K filed on Monday, the company provided details on its international business ahead of its January fourth-quarter earnings report, which will disclose revenue and membership by region for the first time.

Netflix provided a benchmark for investors, releasing historical streaming revenue, membership and average revenue per paying streaming membership by region for each quarter of 2017 and 2018; for the first three quarters of 2019; and for the twelve-month periods ended Dec. 31, 2017 and 2018 and the nine-month period ended Sept. 30, 2019.

In the Asia-Pacific region - the company's smallest - revenue was up 153% from the end of the third quarter of 2017 to the end of the third quarter of 2019. Membership grew 148% in the period.

Growth in Europe, the Middle East and Africa also accelerated. Membership in the region increased 132% from the end of the third quarter of 2017 to the end of the third quarter of 2019, and membership revenue increased 105% in the period.

In Latin America, where the company says it is in 33% of broadband homes, streaming revenue increased 71% from the end of the third quarter of 2017 to the end of the third quarter of 2019. Membership in the period grew 61%.

Netflix is focusing on its international business as the streaming landscape becomes more crowded, with Walt Disney Co's Disney+ and Apple's Apple TV+ entering the market and two other services - HBO Max, from AT&T-owned WarnerMedia, and Comcast-owned NBCUniversal's Peacock - set to launch next year.

(Reporting by Helen Coster; Editing by Dan Grebler)

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Updated Date: Dec 17, 2019 03:07:20 IST