Netflix Statistics: Subscribers, Revenue and Ad Tier

Netflix grew revenue 16% to $45.2 billion in 2025, or 17% on a foreign exchange neutral basis [1]. Operating margin rose to 29.5% in 2025 from 26.7% in 2024 [1]. Fourth-quarter 2025 revenue was $12.05 billion, up 17.6% year over year, with operating margin of 24.5% [1].

For 2026, Netflix forecasts revenue of $50.7 billion to $51.7 billion (+12% to +14%) and an operating margin of 31.5% [1]. These are company forecasts, not reported results.

Total revenue was $31.62 billion in 2022, $33.72 billion in 2023 and $39.00 billion in 2024 [2]. Operating income rose from $5.63 billion in 2022 to $6.95 billion in 2023 and $10.42 billion in 2024, with operating margin moving from 18% to 21% and then 27% [2]. In 2024 operating income exceeded $10 billion for the first time [3].

Revenue grew about 15.9% between 2024 and 2025, using $39.00 billion for 2024 [2] and the $45.18 billion sum of the four 2025 quarters [1] (freereports.online calculation).

Netflix ended 2022 with 230.75 million paid memberships, 2023 with 260.28 million and 2024 with 301.63 million [2]. Paid net additions were 8.90 million in 2022, 29.53 million in 2023 and 41.35 million in 2024 [2]. The fourth quarter of 2024 alone added 18.91 million paid memberships [3].

Memberships rose about 30.7% from end-2022 to end-2024 (freereports.online calculation from [2]). The Q4 2025 shareholder letter no longer reports a precise membership count in its summary table; it states that Netflix crossed 325 million paid memberships during the quarter and serves an audience approaching one billion people [1].

Average monthly revenue per paying membership was $11.76 in 2022, $11.64 in 2023 and $11.70 in 2024 [2].

Netflix reports four regions: United States and Canada (UCAN), Europe, Middle East and Africa (EMEA), Latin America (LATAM) and Asia-Pacific (APAC) [1].

• 2024 streaming revenue: UCAN $17.36 billion, EMEA $12.39 billion, LATAM $4.84 billion, APAC $4.41 billion [2].
• End-2024 paid memberships: UCAN 89.63 million, EMEA 101.13 million, LATAM 53.33 million, APAC 57.54 million [2].
• 2025 revenue, summed from quarterly figures: UCAN $19.96 billion, EMEA $14.52 billion, LATAM $5.36 billion, APAC $5.35 billion [1] (freereports.online calculation).

UCAN accounted for about 44.2% of 2025 revenue, EMEA 32.1%, LATAM 11.9% and APAC 11.8% (freereports.online calculation from [1]). Compared with 2024 [2], APAC revenue grew about 21.3% in 2025, EMEA 17.2%, UCAN 15.0% and LATAM 10.7% (freereports.online calculation). LATAM growth was much higher on a foreign exchange neutral basis, at 20% to 35% in each quarter from Q4 2024 to Q4 2025 [1].

Netflix offers an ad-supported subscription plan alongside its ad-free plans [2]. 2025 was only its third year selling advertising, and ad revenue grew by more than 2.5x versus 2024 to over $1.5 billion [1]. Netflix expects ad revenue to roughly double in 2026 [1].

In 2025 Netflix began testing AI tools that help advertisers create custom ads based on Netflix intellectual property [1]. Netflix does not report the number of ad-tier members in the documents used here.

Netflix is working to close its pending acquisition of Warner Bros. [1]. In December 2025 it obtained commitments for a $59 billion senior unsecured bridge facility for the deal, later reduced to $34 billion after new credit facilities were put in place [1]. In the second half of 2025, view hours rose 2% year over year, driven by a 9% rise in viewing of branded originals [1].

Figures come from Netflix's Q4 2025 shareholder letter (January 20, 2026), its Form 10-K for fiscal 2024 filed with the US SEC, and its Q4 2024 shareholder letter. All values are in US dollars as reported. A paid membership is a membership with a payment method that is not in a free trial; extra member sub-accounts are excluded [2].

freereports.online calculations: 2025 regional revenue is the sum of the four quarterly regional figures in the Q4 2025 letter. Regional shares divide each region by that $45.18 billion total. Growth rates compare 2025 sums with 2024 10-K regional streaming revenue, which includes $124 million of hedging gains in 2024 [2]. Membership growth compares 10-K year-end counts. The 2026 values are company guidance, not results.