The content spending of Netflix worldwide amounted to around 13 billion U.S. dollars in 2023, due to the strikes in Hollywood. This marks the second decline to date compared to the previous year, when the video-on-demand service spent over 16 billion U.S. dollars on content. According to estimates, Netflix's expenditures on content will likely stabilize at roughly 17 billion U.S. dollars by 2024.
Netflix leads SVOD original content spending
A forecast suggests that Netflix spent around seven billion U.S. dollars on its own originals in 2023, ranking fifth among global media companies after Disney, Warner Bros. Discovery, Paramount, and Comcast. However, with a share of over 25 percent, the streaming giant accounts for the highest amount of SVOD original content spending worldwide.
Slowdown in content investments
Aside from the beginning of the COVID-19 pandemic in 2020, when Netflix’s content spending fell, its investments in content have steadily increased every year. Production costs of originals, such as “Stranger Things” and “The Crown,” are reaching ever new heights. But the company is expected to plateau its content budget for the next few years, and it is not the only streaming provider that needs to keep their costs low. Following a net loss of over one billion U.S. dollars in its direct-to-consumer segment in Q1 2023, Disney announced in February 2023 that it would be slashing five billion U.S. dollars in costs, including both content and non-content cuts, in order to make its streaming business profitable.
FAQs
Netflix says it will spend $17 billion on content in 2024, up 35% from the year prior. Netflix's content budget is stabilizing after years of growth, interrupted by spending dips in 2020 as a result of COVID and in 2023 given the Hollywood actors and writers strikes.
What is Netflix content budget 2024? ›
Netflix will spend 'vast majority' of its $17 billion content budget on originals in 2024 despite a deluge of licensed hit shows up for grabs.
How large is Netflix? ›
Netflix is one of the world's leading entertainment services with 270 million paid memberships in over 190 countries enjoying TV series, films and games across a wide variety of genres and languages.
What was Netflix originally called? ›
Even though they scrapped it before launch, “Kibble” stuck around long enough that it's still acknowledged by Netflix as the company's “original name.” It also stood the test of time, especially after the company entered the streaming arena, according to Randolph.
What is the current state of Netflix? ›
Netflix is up!
We are not currently experiencing an interruption to our streaming service.
Can I share my Netflix account with family in a different home? ›
A Netflix account is meant to be shared by people who live together in one household. People who are not in your household will need to sign up for their own account to watch Netflix. You can manage who uses your account by setting a Netflix Household.
Is there a free trial for Netflix in 2024? ›
Unfortunately, if you're looking to get a free trial to Netflix, you're out of luck. Netflix does not offer any free trials and is unlikely to ever do so.
Is Netflix growing or shrinking? ›
Netflix's average monthly revenue per paying subscriber worldwide amounted to $11.64 in 2023. An increase of 7.58% since 2019. According to company data, Netflix's average monthly revenue per paying member in the US and Canada is $16.28 in 2023, which is 87.99% higher than the per-member revenue in Latin America.
Which is bigger Netflix or Amazon? ›
While Netflix has a huge library of movies, Prime Video wins out here in terms of sheer volume. According to our quick check on streaming guide JustWatch, Prime Video has around 7900 movies available to watch, compared to Netflix with around 4300.
Has Netflix ever made a profit? ›
Key Facts. Netflix's $9.4 billion in first-quarter revenues and $5.28 profit per share were comfortably above consensus analyst estimates, with Netflix's top and bottom line marks both the best in its history.
Currently, Netflix is owned by a mix of insiders, such as co-founder Reed Hastings and Chief Legal Officer David Hyman, as well as some of the biggest asset management companies in the world, such as BlackRock and the Vanguard Group.
Is Netflix older than Google? ›
Netflix, originally known as Kibble, was founded by former marketing director Marc Randolph and computer scientist and mathematician Reed Hastings back in the year 1997, making the company technically older than Google itself.
What came first Hulu or Netflix? ›
Netflix, a website originally created for DVD rentals and sales, began providing streaming content in 2007. In 2008 Hulu, owned by NBC and Fox, was launched, followed by tv.com in 2009, owned by CBS.
Which state uses Netflix the most? ›
Oregonians watch more Netflix than residents of any other state, binging a whopping 798 hours of the streamer per year. Following close behind are Utahns, who watch 782 hours of Netflix a year.
Which country uses Netflix the most? ›
United States. Netflix was founded in the U.S. in 1997, so it shouldn't come as any surprise to hear it has the most Netflix users by country in 2023. There are about 67 million Netflix users in the country. The U.S. is, by far, Netflix's most profitable market.
How much does Netflix cost in 2024? ›
Netflix Prices in 2024
Unfortunately, the ad-free $9.99 Basic subscription tier has been discontinued and has been replaced with a cheaper, ad-supported tier that costs $6.99 per month.
What is the most budget on Netflix? ›
Series
| # | Title | Release date |
|---|
| 1 | Squid Game | 17 September 2021 |
| 2 | Stranger Things | 27 May 2022 |
| 3 | Wednesday | 23 November 2022 |
| 4 | Dahmer – Monster: The Jeffrey Dahmer Story | 21 September 2022 |
12 more rowsAccording to a report by Business Insider, Netflix's standard licensing deal pays studios and distributors a licensing fee that is typically between 60-70% of the content's production costs. This means that if a film costs $100 million to produce, the licensing fee paid by Netflix would be around $60-70 million.
How much does Netflix take in a year? ›
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.
How much does Netflix cost per month? ›
Netflix costs $6.99 to $22.99 per month, depending on your subscription plan. It offers three plans: Standard With Ads, Standard and Premium. A former popular choice was the Basic plan at $9.99, but Netflix eliminated this option for new or rejoining members and is phasing it out entirely. Users can cancel anytime.
