The Los Gatos-based streamer on Thursday reported that it added 8.3 million subscribers in the fourth quarter, falling short of its initial forecast of 8.5 million.
Netflix has invested in growing its slate of foreign-language series and last year had huge success behind the Korean show “Squid Game.” More than 90% of Netflix’s membership growth in 2021 came from outside the U.S.
The results come as Netflix stock has declined since the end of November, as some analysts were concerned Netflix would not meet its internal forecast of growth of 8.5 million subscribers in the fourth quarter.
Last week Netflix increased its price in the U.S., an area where many analysts believe the streamer could be hitting close to the ceiling on new subscribers.
In the fourth quarter, Netflix released a number of popular TV shows, including the second season of fantasy series “The Witcher,” the final part to thriller “La Casa de Papel” and the second season of comedy drama “Emily in Paris.” Films in the quarter included action flick “Red Notice” and dark comedy “Don’t Look Up,” which are the top-performing English-language films on the streaming service based on hours watched.
On Thursday, Netflix said it believes there is still a lot of runway for its business.