Netflix posted sharply higher third-quarter earnings last week thanks to a strong range of titles, including Squid Game, the dystopian South Korean survival drama that the company says became its biggest-ever TV show.
The company has recently ramped up production of original content, rebounding from pandemic-induced delays in the first half of the year. It’s also looking beyond movies and TV, saying it plans to fund “new growth opportunities,” such as video games.
“It remains very early days for this initiative and, like other content categories we’ve expanded into, we plan to try different types of games, learn from our members and improve our game library,” the company said.
After a sharp slowdown in the first half of 2021, Netflix added 4.38 million subscribers from July through September to reach 213.6 million worldwide. Wall Street analysts had projected 3.86 million additions, according to Refinitiv data.