Many of us love to binge watch movies or series on Netflix and chill, right? But seldom do we know about how the streaming giant earns bucket loads of money. Is it only the subscription fees we pay? Well, let's find out.
Vanya GautamUpdated: Feb 02, 2024, 13:26 IST
3 min read
Many of us love to binge watch movies or series on Netflix and chill, right? But seldom do we know about how the streaming giant earns bucket loads of money. And how much is it? Well, let's find out.
How Much Money Does Netflix Earn?
how much money netflix earns/shutterstock
$33.7 billion. This eye watering amount is the mammoth revenue video streaming giant Netflix had earned last year. Netflix's revenue of $33.7 billion roughly translates into Rs 2.73 lakh crore. The revenue figures for 2022 and 2021 were similar, at $31.6 billion and $29.6 billion respectively.
Where Does Netflix's Revenue Come From?
netflix founders/getty
Its a no brainer that Netflix primarily earns it revenue from monthly membership fees for services related to streaming content to its subscribers. Netflix offers a variety of streaming membership plans, the price of which varies by country and the features of the plan. As of December 31, 2023, pricing on Netflix paid plans ranged from $1 to $28 per month, and pricing on its extra member sub accounts ranged from $2 to $8 per month, as per Netflix’s 2023 financial report.
And that’s not all. Netflix also earns revenue from advertisem*nts presented on its streaming service, consumer products and various other sources, besides the partnerships with local telecom providers to package Netflix subscription.
From its $33.7 billion of 2023, streaming revenues contributed $33.6 billion, whereas $82,839,000 was contributed by DVD revenue. Last year (in April 2023), Netflix had announced its plans to discontinue its DVD-by-mail service, and ceased providing its mailing services to customers on September 29, 2023.
Which Countries Contribute To Netflix's Revenue?
Out of Netflix’s $33.7 billion revenue of last year, $14.87 billion of that revenue was from the United States and Canada, $10.55 billion from Europe, Middle East, and Africa, $4.44 billion from Latin America and $3.76 billion from Asia-Pacific .
How Many Subscribers Does Netflix Have?
As of December 31st 2023, Netflix had more than 260 million (26 crore) paid subscribers in 190 countries who have been enjoying TV series, films and games across a wide variety of genres and language on the streaming platform.
When Amazon Wanted To Buy Netflix For $15 Million
jeff bezos netflix/pageone
In 1998, Amazon founder Jeff Bezos had offered $15 million for Netflix, which was then just a one-year-old DVD company. But instead of accepting the offer, Netflix co-founders Marc Randolph and Reed Hastings rejected it. But why?
25 years after that incident, Netflix co-founder Marc Randolph had revealed the reasons for turning down Amazon’s mega offer in 1998 in a tweet.
— Marc Randolph (@mbrandolph) April 13, 2023For the past few days, I’ve been sharing some of my favorite stories leading up to Netflix’s Anniversary this Friday.
Make sure to follow along for tomorrow’s post.
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