Mumbai: Netflix has announced its financial results for the fourth quarter of 2021. The company reported revenue of $7.7 billion registering a growth of 16 per cent year-on-year.

The streaming giant added 8.3 million global paid subscribers in Q4 bringing its paid memberships up to 222 million at the end of 2021.

It reported full year revenue of $30 billion - a growth of 19 per cent year-on-year while operating income of $6.2 billion rose 35 per cent YoY. Netflix added 18 million subscribers in 2021 compared to 37 million subscribers in 2020. The company observed that more than 90 per cent of its paid net adds in 2021 came from outside the US and Canada (UCAN).

Netflix added 2.6 million paid subscribers from the APAC region with strong growth in both Japan and India. It generated $871 million in revenues from the APAC market with a subscriber base of 32.63 million, and reported 1.2 million paid adds from the UCAN region, 2.5 million from the EMEA region and 1.0 million from LATAM region.  

“In December, we lowered our prices in India across all four plans. India is fairly unique because pay TV pricing is very low. We believe these new prices will make Netflix more accessible to a broader swath of the population - strengthening our value perception. Our goal is to maximize long term revenue in each of our markets,” it said in a statement.