Netflix: Net Income, by year
YearNet income,
in million USD
  • Region: Worldwide
  • Time period: 2013 to 2023
  • Published: Jan 2024

Data Analysis and Insights

Updated: Mar 29, 2024 | Published by: Statistico | About Us | Data sources

Remarkable Growth in Net Income

Netflix's net income saw a significant increase from $186.68 million in 2016 to $5407.99 million in 2023, marking a nearly 29-fold growth over seven years. This demonstrates the company's substantial profitability and growth trajectory.

Impact of the Pandemic on Earnings

The year 2020 witnessed a considerable surge in Netflix's net income to $2761.40 million, up from $1866.92 million in 2019. This 48% increase likely reflects the impact of the COVID-19 pandemic, as lockdown measures globally led to higher consumption of streaming services.

Consistent Year-over-Year Growth

Analyzing the year-over-year changes, Netflix consistently increased its net income every year, except for 2021, where it slightly decreased to $5116.23 million from $5407.99 million in 2023. Despite this dip, the overall trend remains strongly positive.

Record Highs in Net Income

In 2023, Netflix achieved its highest recorded net income of $5407.99 million. This peak underscores the company's successful growth strategy and its increasing dominance in the streaming industry.

Acceleration in Growth Rate

The growth rate of Netflix's net income significantly accelerated in the last few years, particularly notable between 2017 and 2020, where it grew from $558.93 million to $2761.40 million. This acceleration indicates an expanding customer base and improved revenue models.

Early Years of Modest Growth

Between 2013 and 2016, Netflix's net income demonstrated modest growth, starting from $112.40 million and reaching $186.68 million. These early years of slower growth contrast sharply with the rapid increases seen in subsequent periods.

Variability in Yearly Income Growth Rates

The yearly growth rates of Netflix's net income show significant variability, with the most substantial percentage increase occurring between 2017 and 2018, where net income rose from $558.93 million to $1211.24 million, more than doubling. This variability highlights the dynamic nature of Netflix's business environment and strategy adjustments.

Comparative Analysis of Recent Years

Comparing the net income in the most recent three years, there was a rebound from a slight decrease in 2021 to reach the record high in 2023. This recovery and growth to $5407.99 million indicate robust financial health and a strong response to any previous year's challenges.

Frequently Asked Questions

What growth did Netflix's net income see in recent years?

Netflix's net income saw a nearly 29-fold growth, increasing from $186.68 million in 2016 to $5407.99 million in 2023.

When did Netflix experience a slight decrease in its net income?

Netflix's net income slightly decreased in 2021, falling to $5116.23 million from $5407.99 million in 2023. Despite this, the overall growth trend remained strongly positive.

Between which years did Netflix's net income growth rate show significant acceleration?

The growth rate of Netflix's net income significantly accelerated between 2017 and 2020, growing from $558.93 million to $2761.40 million.

Terms and Definitions

Netflix is a streaming service that offers a wide variety of award-winning TV series, movies, anime, documentaries and more on thousands of internet-connected devices. It has also expanded to producing and distributing its own original shows and movies.

Net income is a key profitability metric for a company. It is also referred to as the 'bottom line' or net profit. Net income is calculated by deducting all company expenses, including operational expenses, taxes, and cost of goods sold (COGS) from its total revenue.

A streaming service is a subscription-based platform that allows users to watch a variety of digital content, such as movies, TV shows, and music, over the internet. The content can be streamed (played) in real-time, and some streaming services also allow users to download content for offline viewing.

A subscription is a business model where a customer must pay a recurring price at regular intervals for access to a product or service. In the context of Netflix, customers pay a monthly fee to access its library of content.

Revenue is the total amount of income generated by the sale of goods or services related to a company's primary operations. Revenue on an income statement is often referred to as sales or service revenues.

Original content refers to programming that is created or first distributed by a particular network, company, or service, such as Netflix. The creation of original content can serve as a draw for subscribers and can enhance the brand reputation of the media provider.
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Netflix, an international streaming giant, provides a vast array of movies, series, documentaries, and other viewing options to its millions of subscribers worldwide. Read more »