Netflix's quarterly net income 2013-2024
After a challenging year for the U.S. TV and streaming industry due to the strikes in Hollywood, market leader Netflix reported a net income of over 2.3 billion U.S. dollars in the third quarter of 2024, up from a year earlier. Its revenue and subscriber base also increased and even beat expectations.
Netflix’s profit compared to other DTC businesses
Despite Netflix recording the highest expenses among major streaming services worldwide, it is one of the very few companies in the direct-to-consumer streaming business making money. In 2023, the operating profit of Netflix amounted to around seven billion U.S. dollars, while Paramount, for example, reported DTC losses of nearly two billion U.S. dollars that year. Disney’s losses exceeded two billion U.S. dollars.
Netflix’s content expenditure flattens
However, like other providers, the streaming giant implemented several measures to reduce churn and costs. For example, Netflix’s content spending will probably not continue to increase, but will remain stable in the years ahead. The company already abruptly stopped further production of TV series seasons like “That '90s Show” and “Unstable,” as high production costs failed to pay off and the shows were met with unsatisfied viewers.
