[U.S. Port Detective] Nafei Q2 is like a chicken rib

After the US stock market on Tuesday, July 19, the streaming giant Nai Fei announced the second quarter financial report. It is true that this slightly embarrassing financial report will reduce 970,000 from the previous month. It was 2 million. Although the subscriber decreased, the stock price finally got up. The closing price of this morning was 216.44 US dollars, soaring 7.35%.

After the market on July 19th, the streaming giant Nafei announced the second quarter financial report. During the period, the loss of subscribers was lower than expected, and profit data was better than expected. After the financial report was released, Nafei's stock price rose 7.35%, the total market value rose to $ 96 billion. The market value of the last four trading days has increased by more than 18 billion US dollars, reaching the high point in nearly 3 months.

July 20th's flight love

1. General financial data, a bit embarrassing

According to the financial report, the total revenue of Nafei Q2 was US $ 7.970 billion (analyst expected $ 8.04 billion), which was US $ 7.342 billion in the same period last year, an increase of 8.55%year -on -year; net profit was 1.441 billion US dollars. Increasing 6.5%.

Naifei quarterly, semi -annual report overview

In fact, the operating data of Nafei Q2 is really too ordinary. Although revenue and net profit have increased, it has no longer the rapid development of Naiti, or now Nafei has passed rapid development period.

However, one thing needs to be pointed out that due to the turbulent global economic turmoil and the stronger dollar, the exchange rate level of the US dollar to most currencies has been greatly improved compared with the past. This kind of multinational company is very unfavorable, because the settlement method of Naifei is calculated in the US dollar. In other words, the stronger dollar has caused the discount on European users in disguise. main reason!

July 22

Second, better than expected, it is actually a reduction in user loss

Of course, the most concerned in this financial report is that Naifei Q2 pays 970,000 payable users, and the market expects is 2 million, which is far lower than market expectations. As of now, the total number of subscribers in Naifei in the world is 220.67 million. The author draws the number below from the number and revenue and net profit from Q2 from Q2 to 2022 from Q2 to 2022.

2020-2022 Naifei Q2 Revenue Revenue Real-profit Relationship Map

(1) The number of subscribers pay users from Q2 from 2020 to 2021 Q4 has been on the rise. In 2021, the number of subscribers in Q4 reached the highest point of 221.84 million. %. In fact, in the first quarter, Naifei's paid subscribers began to decline. At that time, as soon as the financial report came out, Nafei's stock price plummeted. If friends who were concerned about Nafei should remember, and in the second quarter, paid subscription users Continue to decline, but the number of loss is better than expected.

（2）根据财报显示，Q2用户流失的主要在UCAN（北美地区）、EMEA（欧洲、中东和非洲）等成熟市场，环比分别减少130万、77万，而在LATAM（拉美地区）、APAC（ The Asia -Pacific region) emerging markets have achieved varying degrees of growth, an increase of 1.08 million and 10,000 month -on -month.

3. The killer of the content company -explosive works

Nai Fei's first popular IP "Strange Story"

Tianluo Da is also in the Sri Lanka. The explosive drama once again saved Nai flying in the fire and fire. The last time he fell on "Squid Game", and this time it fell on "Strange Story". According to Nielsen data, "Strange Story of the Story of the Fourth Season" was 7.2 billion minutes in the first week of its release. Before that, there was never a current media drama that watched more than 6 billion minutes in a week. Of course, "Strange Story" is also the highest ratings of Naifei so far.

Play viewing overview

It is the explosion of "Strange Story" that the number of subscribers in Q2 has exceeded expectations. As a streaming company driven by content, Nai Fei has continuously produced "Squid Games", "Squid Game", " The explosive model such as the Strange Story is the magic weapon for Nai Fei's undefeated place in the capital market.

Fourth, Naiti's future is in Asia Pacific, in Latin America

As mentioned in the previous article, the number of subscribers in Q2 lost 970,000, which is lower than the market expectations of 2 million. The key role is the increase in the number of paid subscriptions in the Asia -Pacific region to a certain extent. The loss of the subscriber. In order to see the number of subscribers in different regions in different regions, the author compiles the statistics of the last five quarters of data.

2021-2022 Q2 region number of subscribers overview

(1) There is no doubt that North America and EMEA (Europe, the Middle East, Africa) occupy an absolute dominant position in the composition of Nafei revenue. Taking the Q2 of 2022 as an example, the total number of subscribers in North America and EMEA accounts for 66% The number of subscribers in the Latin American market accounts for 18%of the total, and the Asia -Pacific market accounts for 16%of the total. In the same period last year, 68%, 19%, and 13%were respectively. In fact, the proportion of paid subscriptions in various regions has not changed much, the proportion of markets in North America and the Latin American market has declined, and the share of this part of the decline has been supplemented by the Asia -Pacific region. 2021, 2022 Q2 region subscriber proportion

(2) As the base camp of Naifei, the important reason for the loss of users is caused by the high inflation and price increases in the United States. Although there is a blessing of the explosive drama "Strange Story", it does not increase the number of paid subscribers in North America, but if there is no drama, the loss of the number of subscribers in North America may be more!

(3) The Latin American market and the Asia -Pacific region are much lower than the North American and EAMA regions in terms of paid subscribers, while North American regions subscribe to paid users are close to the growing ceiling, which is much more difficult than other regions. Therefore, the main growth point of Naifei is concentrated in the Latin American market and the Asia -Pacific region. How to further open these two markets.

Fifth, but how can the flowers fall and fly into the subscriber

Whether it is the previous "Squid Game" or "Strange Story of Strange Stories · Season 4" this season, the explosion of the episode has great uncertainty. Even in the inside of Naifei The fourth season "" can be so popular because there is such a burst of blessings that Q2's financial report is not so bad. If there is no blessing of the show, who has plummeted 20%of it.

In general, Nai Fei is still the Nafei, but the external environment has changed, and more and more players participating in the streaming media industry. Nai Fei wants to occupy a place in complex competition. Innovation and creating one after another explosion episodes can make it undefeated under the wall!

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