Propelled by 'Squid Game,' Netflix Boosts Its Subscriber Base to 214 Million

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

Propelled by 'Squid Game,' Netflix Boosts Its Subscriber Base to 214 Million

Netflix's subscriber base grew by 4.4 million in the last quarter, propelled in part by a new dystopian hit series, "Squid Game," which the company has called its "biggest series launch ever."

The growth helped Netflix rake in $7.5 billion in revenue during the third quarter of 2021, up 16% from the prior year.


The streaming giant's third quarter revenue roughly matches what analysts expected to see ($7.48 billion), but Netflix exceeded expectations when it came to new subscribers, as analysts anticipated about 3.84 million additions, according to CNBC.

Across the globe, Netflix says 214 million people now pay to watch movies and shows via its service.

As for "Squid Game" specifically, Netflix told investors that about 142 million "member households" watched the show in the first month since its release.

Netflix typically shares the number of accounts that stream its top movies and shows, but later this year the company says it will "shift" to another metric. Netflix plans to measure "engagement as measured by hours viewed," instead of household views, which it claims will be a "slightly better indicator of the overall success."

Netflix shares closed on Tuesday up by a fraction of a percent.

While Netflix enjoys a relative surge of users, tension is mounting inside the company as workers coordinate a walkout over its handling of Dave Chappelle's comedy special, "The Closer."

Meantime, crews working behind the scenes in Hollywood have also threatened to walk off sets run by Netflix and other members of the Alliance of Motion Picture and Television Producers over working conditions and pay. A tentative deal was reached between unionized crew members and major studios over the weekend, however entertainment workers could still reject the agreement in the coming weeks.

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Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles
\u200bPhoto: Gitai

Space robotics company Gitai raised a $30 million Series B extension this week, bringing the total value of the round to roughly $47 million.

The funding will be used to further develop Gitai’s suite of space robots as well as build out its manufacturing footprint in Torrance. Previously Gitai announced it raised a $17.1 million Series B in March 2021; this additional raise is still part of that round.

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How SVT Solutions Is Creating Cleaner, More Sustainable Fleet Management

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

How SVT Solutions Is Creating Cleaner, More Sustainable Fleet Management
Evan Xie

Less than a month ago, the California Air Resources Board announced new regulations that aim to phase out fossil fuels in medium and heavy duty trucks by 2045. Known as Advanced Clean Fleets, the rule caused major concerns across the transportation industry and has sent many fleet owners and operators scrambling for solutions that will help their business comply with the ambitious timelines.

A new Los Angeles-based company, SVT Fleet Solutions, is hoping to capitalize on the coming wave of change by providing a one-stop-shop for fleet management that will enable owners to build and execute a plan to transition off of diesel and into zero emission technologies like batteries and hydrogen. “There really has not been any new fleet management companies in this space in over 10 years,” says Don Kelley, president of SVT. “I'm just thrilled that somehow– in some form or fashion–transportation is sexy again.”

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Why Cirque du Soleil Tapped LA Game Maker Gamefam for its First Virtual World

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Why Cirque du Soleil Tapped LA Game Maker Gamefam for its First Virtual World
Photo: Gamefam/Cirque du Soleil Entertainment Group

After almost 40 years since its founding, Canadian entertainment powerhouse Cirque du Soleil is embracing the metaverse.

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