Netflix Tops 222 Million Subscribers Worldwide, Narrowly Missing Q4 Forecast

By Fletcher Peters @fIetcherpeters
Published Jan. 20, 2022, 4:20 p.m. ET

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After a groundbreaking Q3, Netflix‘s subscriber growth slowed things down in Q4 of 2021. The streaming giant announced their 2021 Q4 numbers today, just missing forecasts for their subscriber growth made by both Wall Street and themselves. In the fourth quarter, Netflix added 8.3 million subscribers, missing the 8.5 million forecast that was projected while still topping 222 million subscribers total.

Earnings per share, on the other hand, topped forecasts at a diluted $1.34. Similarly, revenue was in line with expectations at $7.7 billion. These results have sent Netflix stock down more than 10% in after-hours trading. It closed the regular trading day at $508.25, a decline of 2 percent. This news comes after the streamer was hitting all-time highs last fall — Netflix has now tumbled to its lowest level since last spring.

“We achieved several milestones in 2021: we had the biggest TV show of the year (Squid Game), our two biggest film releases of all time (Red Notice and Don’t Look Up) and Netflix was the most Emmy-winning and most nominated TV network and the most Oscar-winning and nominated movie studio of 2021,” Netflix wrote in their letter to shareholders.

Netflix originally predicted they’d add 8.5 million subscribers in Q4, a sharp increase from their nearly 4 million projected new subscribers in Q3. In the second quarter of 2021, Netflix only signed up 1.54 million new subscribers due to a lack of grabby new series akin to Bridgerton or Tiger King.

Now, with shows like Squid Game and films like Red Notice and Don’t Look Up, the streamer is bouncing back. Squid Game has become the biggest show in the streamer’s history, raking in 111 million households in just its first month. Netflix released the news that over 30 million more households have viewed the series, landing at a “mind-boggling” 142MM households in total.

The streamer’s execs are set to discuss these matters at today’s Q4 earnings call at 6 p.m. ET.