Netflix is a leading SVOD service with over 277.65 million paid subscribers worldwide as of Q2 2024. That is an increase of over 17 million subscribers compared to 260.28 million recorded in 2023.
Netflix now owns an 8.4% share of the US screen time. It is just behind YouTube, which has a 9.9% share.
Netflix released an engagement report that shows the most watched shows and movies in the first half of 2024.
Learn more about Netflix’s user demographics, its financials, and user behavior that will help you understand its trends for 2024!
Top Netflix Statistics At A Glance
- Netflix has 277.65 million subscribers as of 2024.
- Netflix generated $18.93 billion in revenue in the first half of 2023.
- Women make up 51%, while Males make up 49% of all Netflix users.
- Netflix is preferred by 47% of Americans over other streaming platforms and is responsible for 8.4% of the screen time in the country.
- Around 65% of Netflix consumers are from outside of the United States of America & Canada.
- Netflix customers spend 62.1 minutes each day on average consuming content.
How Many Subscribers Does Netflix Have?
As of Q2 2024, Netflix has 277.65 million subscribers worldwide, an increase of 8 million subscribers compared to the previous quarter.
The number of Netflix paid subscribers was 269.6 million in Q1 2024, an increase of over 9 million users compared to 260.28 million recorded at the end of 2023.
Here is a table showing Netflix’s subscriber count over the years:
| Year | Netflix Subscribers |
|---|---|
| 2024 (as of Q2) | 277.65 million |
| 2023 | 260.28 million |
| 2022 | 230.7 million |
| 2021 | 219.7 million |
| 2020 | 192.9 million |
| 2019 | 151.5 million |
| 2018 | 124.3 million |
| 2017 | 99 million |
| 2016 | 79.9 million |
| 2015 | 62.7 million |
| 2014 | 47.9 million |
| 2013 | 35.6 million |
| 2012 | 25.7 million |
| 2011 | 21.5 million |
Source: Netflix Investor Relation Letter, Statista
In the Q1 of 2024, the number of Netflix Subscribers increased by 9.32 million compared to 260.28 million subscribers recorded in the last quarter of 2023.
Netflix’s Ad-Supported Plan Now Has 40 Million Subscribers
In May 2024, the Netflix ad tier crossed 40 million monthly active users worldwide. 40% of the signups on Netflix are from this tier in the countries where it is available.
Netflix launched its ad-supported plan for Canada and Mexico on November 1st, 2022. Later, on November 3rd, the plan went live for the United States, United Kingdoms, Australia, France, Brazil, Germany, Italy, Korea and Japan.
Besides, Netflix revealed that it is set to launch an in-house advertising technology platform by the end of 2025 in order to attract new clients who can advertise on Netflix and engage with its user base.
Netflix Added 9.33 Million New Subscribers After Password-Sharing Crackdown
Netflix has experienced an increase in subscribers as more people created new accounts to stream content after deciding to crack down on password sharing.
Netflix has extended its crackdown on password-sharing to over 100 countries, and here is how it is affecting its subscriber count!
- After announcing its password crackdown news on May 23, 2023, Netflix experienced a significant increase in subscriber count in the United States. The streaming giant added 100k subscribers on both May 26th and 27th, 2023 and the average daily signups during that period rose to 73,000.
- The average daily signups increased by 102% from the previous 60-day period. That is even better than the spike which happened during the Covid-19 lockdown.
Netflix User Demographics
Here’s the Netflix users demographics.
Females Make Up 51% Of Netflix’s Users
Women make up 51%, while Males make up 49% of all Netflix users.
| Gender | Share of Netflix Subscribers |
|---|---|
| Females | 51% |
| Males | 49% |
The average Netflix subscriber is a millennial with a yearly income of less than $50,000.
Although 68% of Netflix members have some or no college education, roughly 33% have a bachelor’s degree or above.
Millennials Use Netflix The Most — Netflix Users By Generation
Netflix appeals to a wide range of viewers.
Below is the table to show the distribution of Netflix users based on Generation:
| Generation | Share of Users |
|---|---|
| Millennials | 33% |
| Generation X | 26% |
| Baby Boomers | 22% |
| Generation Z | 18% |
Source: Morning Consult
Adults In The US spend An Average Of 62.1 Minutes Per Day Watching Netflix
That’s an increase of 0.3 minutes compared to that recorded in 2023. In 2023, users spend 61.8 minutes daily on Netflix.
Comparatively, adults in the country spent 53.3 minutes on Netflix every day in 2019.
Source: Statista
22% Of The SVOD Market Share In The United States Is Owned By Netflix
Netflix is the most popular SVOD platform worldwide as well as in the United States. It owns the highest market share of the streaming platforms in the country.
Here is a table displaying the distribution of the SVOD market share in the United States:
| SVOD Platform | Market Share |
|---|---|
| Amazon Prime Video | 22% |
| Netflix | 22% |
| Max | 14% |
| Disney+ | 11% |
| Hulu | 10% |
| Paramount+ | 9% |
| Apple TV+ | 9% |
| Other | 3% |
Source: Statista
Netflix Is Preferred By 47% Of Americans Over Other Streaming Platforms
According to a study, 47% of American citizens prefer Netflix over other web streaming platforms.
Amazon Prime Video comes in second with 14%, followed by Hulu with 13.6% and Disney+ with 13%
Source: News10
Europe, Middle East, And Africa Are The World’s Largest Netflix Markets
As of Q3 2023, Europe, the Middle East, and Africa have the highest number of Netflix paying customers. They gather around 83.76 million Netflix customers between them.
With 77.32 million members, the U.S.A. and Canada are in second place.
With 43.65 million members, Latin America ranks third.
In the Asia Pacific area, the streaming behemoth boasts 42.43 million subscribers.
Here is a table showing Netflix Subscribers by region:
| World Region | Netflix Subscribers |
|---|---|
| Europe, Middle East, and Africa | 88.81 million |
| U.S.A. and Canada | 80.13 million |
| Latin America | 45.60 million |
| Asia Pacific | 45.34 million |
Source: Statista
Slovakia Has The Biggest Netflix Library
Netflix has around 8,427 titles in its Slovakian library, making it the world. Bulgaria comes in second place with 8,272 titles.
Netflix’s video library is constantly changing globally. Other countries also have large collections, but Slovakia’s Netflix library remains the largest. Netflix subscribers will never be bored with their viewing options.
Here is a table showing the biggest Netflix libraries globally:
| Country | Titles in Netflix’s Library |
|---|---|
| Slovakia | 8,427 |
| Bulgaria | 8,272 |
| Latvia | 8,092 |
| Estonia | 8,071 |
| Iceland | 8,012 |
| Lithuania | 7,994 |
| Romania | 7,748 |
| UK | 7,482 |
| Portugal | 7,411 |
| Ireland | 7,394 |
| Spain | 7,341 |
| Germany | 7,315 |
| Hungary | 7,314 |
| Italy | 7,205 |
| Austria | 7,165 |
| Switzerland | 7,154 |
| Philippines | 7,125 |
| Greece | 7,014 |
| Netherlands | 6,934 |
| France | 6,842 |
Source: World Population Review, Statista
Netflix Stopped Password Sharing!
As per Netflix, over 100 million households are sharing accounts among them.
Recently, Netflix put out news on their official site stating that Netflix’s focus has been on giving members greater control over who can access their accounts, and hence, they are giving additional options to users in 103 countries to control their accounts.
Refer to the screenshots below to see what will change.
Source: Netflix Newsroom
Netflix Revenue Statistics
In This Section, We Will take a look at Netflix’s current financial state, how it has performed in the past, and how things look for the platform as we move forward in 2024.
Netflix Generated A Revenue Of $18.93 Billion In The First Half Of 2024
Netflix generated a revenue of $9.37 billion in the first quarter and $9.56 billion in the second quarter of 2024.
Further, the platform is estimated to generate $9.73 billion in revenue in the third quarter of this year.
Netflix ended 2023 on a positive note by gaining over 33 billion dollars in revenue. During its successful run, the platform made a revenue of $8.16 billion in Q1, $8.19 billion in Q2, $8.54 billion in Q3, and $8.3 billion in Q4 2023.
Netflix’s annual income has risen steadily in recent years.
Here is a table showing Netflix’s revenue over the years:
| Year | Revenue |
|---|---|
| 2024 (first half) | $18.93 billion |
| 2023 | $33.724 billion |
| 2022 | $31.61 billion |
| 2021 | $29.698 billion |
| 2020 | $24.99 billion |
| 2019 | $20.15 billion |
| 2018 | $15.79 billion |
| 2017 | $11.69 billion |
| 2016 | $8.83 billion |
| 2015 | $6.78 billion |
| 2014 | $5.5 billion |
| 2013 | $4.37 billion |
Source: Netflix Investor Relation Letter
Netflix’s Revenue Per User (Global)
Netflix’s global average monthly income per paying user is $16.64
Since 2017, there has been a 14.74% growth in Netflix’s global ARPU.
Below is the table showing Netflix’s average monthly revenue per membership:
| Year | Netflix’s Global ARPU |
|---|---|
| 2023 | $10.82 |
| 2022 | $11.76 |
| 2021 | $11.67 |
| 2020 | $10.91 |
| 2019 | $10.82 |
| 2018 | $10.31 |
| 2017 | $9.43 |
Netflix Revenue Per User By Region
In Q2 2024, the average monthly revenue per streaming customer worldwide was highest in the US and Canada, with $17.17 ARPU.
Conversely, it was lowest in the Asia Pacific region. The average revenue per user of Netflix in the region was $7.17.
Here is a table displaying the average revenue per user of Netflix by region as of Q2 2024.
| Region | ARPU |
|---|---|
| U.S. and Canada | $17.17 |
| Europe, Middle East, and Africa | $10.8 |
| Latin America | $8.28 |
| Asia Pacific | $7.17 |
Source: Statista
Netflix Has A Market Cap Of $300.99 Billion
Netflix’s market cap took a massive hit during the first half of 2022. That’s due to the loss of subscribers in the two consecutive quarters. Once the Q3 reports were released, the market cap gradually increased and reached $242.91 billion as of February 2024.
Currently, the market cap of Netflix has reached $300.99 billion.
Source: Companies Market Cap
Netflix Is Estimated To Spend $17 Billion On Content Production In 2024
That is an increase since 2023 when Netflix apparently spent $13 billion
A year before, Netflix spent $16.84 billion on original shows in 2022.
According to estimates, Netflix’s content budget will remain stable for the next several years.
Customers love Netflix’s original shows, which account for a large portion of the company’s net profits. Netflix prioritizes content in order to provide a diverse range of alternatives to its consumers.
Here is a table showing Netflix’s content spending over the years:
| Year | Netflix Content Spend |
|---|---|
| 2024* | $17 billion* |
| 2023 | $13 billion |
| 2022 | $16.84 billion |
| 2021 | $17.9 billion |
| 2020 | $11.8 billion |
| 2019 | $13.9 billion |
| 2018 | $12.04 billion |
| 2017 | $8.91 billion |
| 2016 | $6.88 billion |
Source: Business Today
Wednesday: Season Is The Most-Watched Netflix Series Of All Time
Here is an overview of the most popular Netflix original TV Series of all time as of August 2024:
| Title | Hours Viewed | Views |
|---|---|---|
| Wednesday: Season 1 | 1,718,800,000 | 252,100,000 |
| Stranger Things 4 | 1,838,000,000 | 140,700,000 |
| DAHMER: Monster: The Jeffrey Dahmer Story | 1,031,100,000 | 115,600,000 |
| Bridgerton: Season 1 | 929,300,000 | 113,300,000 |
| The Queen’s Gambit: Limited Series | 746,400,000 | 112,800,000 |
| Bridgerton: Season 3 | 839,100,000 | 105,100,000 |
| The Night Agent: Season 1 | 803,200,000 | 98,200,000 |
| Fool Me Once: Limited Series | 629,800,000 | 98,200,000 |
| Stranger Things 3 | 716,100,000 | 94,800,000 |
| Bridgerton: Season 2 | 797,200,000 | 93,800,000 |
Source: Netflix
Netflix Has Over 15,773 Employees As Of 2024
Netflix has 14,908 employees in 2023, as per their LinkedIn profile data.
Source: LinkedIn
Netflix Has More Female Employees
Netflix employees were reported to be 49.6% female and 45% male, with 1.3% having multiple gender identities.
The company’s greatest gender gap is in IT, where 59% of employees are male.
Although, women outnumber males in the company’s Creative & Corporate section.
Source: Statista
70% Of Hispanic Americans Have An Active Netflix Subscription
Source: Statista
As per a study conducted in the United States, Hispanic Americans were the most likely to have an active Netflix membership, with 70% claiming to have one.
Only 61% of white respondents have an active subscription.
Two Out Of Every Five Netflix Members Use A VPN To View The Service
Netflix does not grant all users access to all of its content.
As a result, some movies and series are restricted to individuals in specific geographic areas.
Many Netflix customers use various VPN services to bypass this restriction.
Netflix Is Available In More Than 190 Countries
Netflix began expanding internationally in 2010.
Netflix withdrew from Russia due to its invasion of Ukraine.
China, Russia, North Korea, Syria, and Crimea do not support Netflix.
Netflix’s development in China is hampered by Beijing’s censorship and tight local competition restrictions.
Source: Netflix Help Center
Netflix Has The Highest Penetration Rate In Australia
Source: Statista
Netflix has a 65% penetration rate in the Australian market. United Kingdoms (57%) and the United States (53%) follow.
Despite being the biggest market for Netflix, the United States is in the third position in terms of penetration.
Here is a table showing Netflix’s penetration rate in different countries:
| Country | Netflix Penetration Rate |
|---|---|
| Australia | 65% |
| United Kingdom | 57% |
| United States | 53% |
| Canada | 48% |
| France | 29% |
| Spain | 26% |
| Germany | 24% |
| Mexico | 23% |
| South Korea | 23% |
| Brazil | 22% |
On Average, Binge-Watching A Netflix Series Takes 5 Days
Although it’s an “average” figure, it’s still crazy. Now, here is one more crazy stat.
There are some binge-watchers who attempt to complete a series within the first 24 hours of its debut. There are around 8.4 million of these binge-watchers globally.
An Average Netflix subscriber Views 60 films Every Year
This works out to one movie every six days!
Netflix Users By The Community In The USA
| Community | Share of users |
|---|---|
| Urban | 34% |
| Suburban | 43% |
| Rural | 23% |
This shows that most Netflix users in the US are from the suburbs.
Around 80% Of Netflix Subscribers Follow Its Algorithm’s Title Suggestions
While viewers frequently land on the most popular titles, the greater part of Netflix users also choose to watch shows recommended by the Netflix recommendation algorithm; in fact, the service’s suggestions accounted for 80 % of Netflix views.
As Most People Have Several Subscriptions, Netflix Is Used By Roughly 44% Of Streaming Service Customers
Source: eMarketer
Despite the fact that Netflix accounts for about 19% of streaming service subscriptions, the majority of users have a Netflix account. Netflix is subscribed to by 44% globally who have one or more subscription services.
A Netflix User Watched The Madagascar Movie 352 Times In 2017
This is my favorite Netflix stat ever, and that is why I saved it for last.
Netflix revealed in the final week of November 2017 that a user has viewed “Madagascar 3: Europe’s Most Wanted” 352 times. CRAZY! Whoever that person may be, they are an absolute legend.
The only information we have on them is that they are Australian.
Quarter 3, 2024 Forecast For Netflix
Netflix revealed these details In the forward-looking section of their Q2 2024 Investor relation letter:
- Netflix predicts A YoY revenue growth of 13.9% in Q3’24, and the revenue is estimated to be $9.73 billion in the quarter.
- Its operating income is estimated to be $2.73 billion in the quarter, while the net income is estimated to be $2.24 billion.
Conclusion: Netflix Has 277.65 Million Users Worldwide
Netflix, being the most popular social media platform worldwide, has managed to attract a large share of users worldwide.
At the same time, it is the most preferred SVOD platform in the United States, with 22% of the SVOD market share in the country.
Besides, with the increase in cord-cutting worldwide, the platform is more likely to gain more subscribers worldwide.
