Netflix sees growth in Brazil despite local crisis

 

During a meeting with analysts to discuss Q216 results, Netflix CEO, Reed Hastings, highlighted the growth in Latin America, despite global subscriber additions were lower than expected.

 

“Latin America has continued to grow well. And what’s been fascinating is the growth is pretty steady even in Brazil, where we see a significant recession, and a difficult government situation. So it seems that neither of those factors really effect a value-oriented business like ours”, Hasting said.

 

Netflix does not disclose the number of subscribers by country in Latin America. According to Dataxis, Brazil was Netflix’s main market in Latin America at the end of Q116, surpassing Mexico for the first time.

 

Netflix’s Q216 performance was not as good as expected. The company’s forecast said that it expected to add two million subscribers internationally, and 500,000 in the US. Instead, it added 1.5 million and 160,000 respectively.  In an announcement to its shareholders Netflix said: “We are growing, but not as fast as we would like or have been”.

 

At the meeting with analysts, Ted Sarandos, Chief Content Officer of Netflix, confirmed that the second season of the original series “Narcos” will premiere on September 2. In addition, the OTT is filming in Mexico the new series “Ingobernable”, while the second season of “Club de Cuervos” is in production.