In the second quarter of 2024, Netflix generated total revenue of nearly 9.6 billion U.S. dollars, up from about 8.2 billion in the corresponding quarter of 2023. The company's annual revenue in 2023 amounted to around 33.7 billion U.S. dollars, continuing the impressive year-on-year growth Netflix has enjoyed over the last decade.
Netflix’s global position
Netflix’s revenue has been heavily impacted by its ever-growing global subscriber base. The leading Netflix market is Europe, Middle East, and Africa, surpassing the U.S. and Canada in the first half of 2022 in terms of subscriber count. Netflix has also significantly increased its licensed and produced content assets since 2016. Despite concerns among investors that the company’s content spend was negatively affecting cash flow, Netflix’s plans to amortize its content assets long-term along with generating revenue from other sources such as licensing and merchandise should ensure the company’s future profitability.
Netflix’s original content
Netflix is also fortunate in that many of its original shows have been a hit with consumers across the globe. Shows such as "Orange is the New Black," "Black Mirror," and "House of Cards" won the hearts of subscribers long ago, but newer content such as English-language shows "Bridgerton," "Wednesday," and "Stranger Things," as well as local TV shows such as "Squid Game" have also been favorably reviewed and proved popular among users.
