Netflix Statistics 2024 | What To Put Into Consideration

Key Takeaways

• The largest markets of Netflix are in Europe, the Middle East, and Africa.
• Financially, Netflix has shown significant growth, boasting revenues of $16.349 billion halfway through 2023, showing a growth of 26.13% since 2016.
• Demographically, Netflix’s workforce is predominantly female, and the service has a 70% penetration rate among Hispanic Americans in the US. 

In this article, we will delve into the intriguing world of Netflix, exploring the dynamic statistics that underpin its global success. From subscriber counts and viewing habits to the platform’s most popular shows, we’ll unravel the data that shapes this streaming giant. 

Netflix Statistics: Overview

Netflix has over 238.39 million paid subscribers globally in the second quarter of 2023. In the previous year, the service produced a staggering 891 original productions, which drove revenues of $31.61 billion and a net income of $4.49 billion. Netflix is currently holding its position as the top-rated streaming service in the world.

Netflix Statistics: Highlights

1. As of the second quarter of 2023, Netflix boasts a subscriber base of 238.39 million, marking an increase of 5.9 million global subscribers from the preceding quarter.
2. Netflix’s crackdown on password sharing resulted in an impressive increase of 100,000 subscribers within a span of two days.
3. The first two quarters of 2023 saw Netflix’s revenue skyrocketing to $16.349 billion.
4. Regarding gender distribution, Netflix users constitute an almost equal split, with women accounting for 51% and men comprising 49%.
5. Among American viewers, 47% prefer Netflix over its competitors.
6. Globally, Netflix accounts for 8% of total video viewing time.
7. A significant majority of Netflix’s viewer base, approximately 65%, is located outside the United States and Canada.
8. On average, Netflix customers dedicate 3.2 hours daily to consuming content.
9. In the month of June 2021 alone, the Netflix mobile app was downloaded over 16 million times across Android and iOS platforms.
10. In 2020, Netflix held a dominant position, owning 80% of the most viewed original shows in the United States.
11. Microsoft and Netflix partnered to launch an affordable subscription plan supported by advertisements.
12. Based on the distinctive viewing patterns of users, Netflix has successfully established 1,300 recommendation clusters.
13. Netflix offers approximately 6,000 titles in its US catalog, although it isn’t the platform with the most content. Stay tuned for statistic number 20 for more insight.
14. Despite losing 1170 million paying subscribers worldwide in the first half of 2022, Netflix managed to bounce back in the fourth quarter of that year and has maintained a steady growth trajectory into the second quarter of 2023.
15. The Russia-Ukraine conflict led to the termination of Netflix services in Russia, resulting in a loss of 0.7 million subscribers.

Netflix Statistics: Users & Subscribers

As of the second quarter of 2023, Netflix has 238.39 million subscribers

Netflix’s user count has seen some dramatic changes since the first quarter of 2022, which included a drop in worldwide streaming subscribers for the first time in a decade. We’ll delve into the specifics of Netflix’s subscriber count below.

Here’s a table that illustrates Netflix’s fluctuating subscriber count over the years:

The increase of new Netflix Subscribers due to Post Password-Sharing Crackdown

Recent data reveals that Netflix has seen a surge in subscriber count as the company decided to enforce stricter password-sharing rules. Netflix expanded its password-sharing crackdown to over a hundred countries, and the impact on its subscriber count is significant!

After publicizing its password-sharing crackdown on May 23, 2023, Netflix saw a notable uptick in subscriber count in the United States. Over May 26th and 27th, the platform added 100,000 subscribers daily, and the average daily signups jumped to 73.000.

The average daily signups posted a 102% increase compared to the preceding 60-day period. This growth even surpasses the increase observed during the Covid-19 lockdown period.

Netflix’s Subscriber Count Dropped in 2022 but Shows Signs of Recovery in 2023!

Netflix’s subscriber growth at the onset of 2022 was sluggish. Netflix had projected the addition of 2.5 million subscribers in Q1 of 2022 but ended up losing approximately 1.17 million subscribers in the first half of 2022.

The silver lining is that Netflix is rebounding from these losses; Q2 2023 reports to shareholders reveal that Netflix now boasts 238.39 million paid subscribers.

Europe, Middle East, and Africa Represent the Largest Markets for Netflix

Here’s a table illustrating Netflix subscribers by region:

Approximately 27% of Netflix Subscribers in the United States Share Their Accounts with Family Members.

• Another 18% share their account with friends, while 9% share it with relatives in different households. About 47.5% of users are unwilling to share their passwords.
• Approximately 41% of viewers watch Netflix without paying.

Netflix is looking to monetize password sharing as Netflix’s CEO, Reed Hastings, sees a huge potential for revenue in households that share passwords.

Source: CNBC

Netflix Puts an End to Password Sharing!

Source: Netflix Newsroom

Netflix estimates that over 100 million households have been sharing accounts using this platform. Netflix recently announced via their official site that they have been striving to give members more control over who can access their account, and as part of this initiative, they have introduced additional user control options in 103 countries.

Netflix Statistics: Revenue

In this portion, we will assess Netflix’s current financial health by analyzing its recent earnings and performance in 2023 alongside forecasts for the future. 

Netflix’s Revenue for 2023 Thus Far Totals $16.349 Billion 

The streaming giant reported earnings of $8,162 million in the first quarter (Q1) and $8,187 million in the second quarter (Q2) of 2023, totaling $16.349 billion halfway through the year.

Netflix experienced significant growth, showing an income of approximately $31.61 billion in 2022, a massive leap from $1.67 billion recorded a decade ago. The company concluded 2022 with a net income of $4.49 billion and a global workforce 11,300. 

For 2022, Netflix posted revenues of $7,868 million in Q1, $7,970 million in Q2, $7,926 million in Q3, and $7,852 million in Q4. Netflix has demonstrated a consistent upward trend in annual revenues.

The following table presents the overall year-by-year revenue of Netflix:

Netflix’s Global Revenue Per User 

The average monthly earning from each Netflix subscriber on a global scale is $11.76, showing a growth of 26.13% since 2016. 

Below is a table illustrating the average monthly income that Netflix can receive per Netflix member:

Netflix Statistics: Demographics

Netflix’s Employee Count Exceeds 15,773

According to Netflix’s LinkedIn profile data, the company employed 14,908 people in early 2023, and the number exceeded 15,773 in August 2023.

Netflix’s Workforce is Predominantly Female

According to the data, 49.6% of Netflix employees are female, 45% are male, and 1.3% represent multiple gender identities. Interestingly, the IT department of Netflix showcases a significant gender disparity, with 59% comprised of men.  However, in Netflix’s Creative & Corporate section, women constitute the majority.

Source: Statista

Active Netflix Subscriptions Among Hispanic Americans Stand at 70%

A study in the United States reveals that Hispanic Americans lead in active Netflix subscriptions with 70% in total. This contrasts with white respondents, only 61% of whom maintain an active subscription.

Netflix’s Global Availability

In fact, Netflix initiated its international expansion in 2010. However, there are certain nations in which Netflix does not approach and execute their business. Currently, Netflix does not operate in China, Russia, North Korea, Syria, and Crimea. Looking at China’s market specifically, the local competition restrictions and Beijing’s censorship policies hinder Netflix’s growth in this nation.

Netflix Registers Highest Penetration in Australia

Netflix boasts a 65% market penetration in Australia, followed by the United Kingdom (57%) and the United States (53%).  Despite being Netflix’s largest market, the United States ranks third in penetration rate. Below is a table detailing Netflix’s penetration rate in various countries:

Females account for 51% of Netflix users.

Women account for 51% of all Netflix viewers, while males account for 49%. The typical Netflix user is a millennial earning less than $50,000 annually. Though 68% of Netflix subscribers have some or no college education, about 33% hold at least a bachelor’s degree.

Netflix Statistics: Additional Information

Netflix’s primary user base consists of Millennials

A diverse audience universally adores Netflix. The following table displays the generational breakdown of Netflix users.

A typical Netflix subscriber watches 60 movies per year

This equates to one movie every six days.

The majority of Netflix users in the USA reside in the suburbs

It is recorded that more than 70% of Netflix users in the U.S. are coming from the suburbs area.

Netflix Statistics: Forecasting

• Netflix expects a surge in revenue to reach $8.5 billion in the third quarter of 2023.
• The anticipated net additions of paid subscribers for Q3 2023 are projected to be on par with the net additions seen in Q2 2023.
• An operating income of $1.9 billion with an operating margin of 22% is foreseen for Q3 2023.

Source: Netflix Investor Relation Letter

Bottom line

Based on the above analytic numbers, Netflix seems to be in a secure position. Even though its membership growth stumbled in the first few quarters of 2022, a rebound appears underway in 2023. Introducing an ad-supported plan up to 40% less expensive than the regular ones could potentially boost subscriber rates in the third quarter of 2023. We’ll update this post with that information as soon as we receive next quarter’s reports!