Netflix just had a blockbuster quarter, and its Asia strategy had a big role to play in it

Core Insights - Netflix added over 5 million subscribers in the third quarter, surpassing analyst expectations for the third consecutive quarter [2][3] - The company reported revenue of $9.8 billion, reflecting a 15% year-over-year increase, and profit growth of 41% year-over-year [2] - The Asia Pacific region experienced the highest revenue growth rate at 19%, compared to 16% growth in North America and Europe, Middle East, and Africa [4] Subscriber Growth and Revenue - The crackdown on password sharing and the rise of advertising-based subscriptions contributed to Netflix's success this quarter [3] - Netflix's local content strategy, including investments in original content, has enhanced its competitive edge [2][5] Regional Performance - Asia Pacific's revenue growth was driven by local content creation and partnerships with local storytellers [4][5] - Notable successes in the region include the South Korean production "Squid Game," which has been watched 265 million times globally and has accumulated 2.2 billion hours of watch time [5][6] Content Strategy - Netflix's approach includes commissioning content in local languages tailored for local markets, which has been pivotal for its international growth [5][7] - The variety of original content and early investments in markets like Japan and Korea have played a significant role in Netflix's growth trajectory [7] Market Reaction - Following the earnings report, Netflix's stock rose by 5% in after-hours trading, with a year-to-date increase of 46% [8]