The chart above shows the quarterly net revenue of Netflix from 2020 to 2023. The company generated $8,161.5 million in the first quarter of 2023 compared to $7,868 million in the same quarter of the prior year. Due to the increased cost of revenues and higher marketing and technology related expenses, the company experienced a decline in its net income in the first quarter of 2023 compared to the same quarter of 2022.
Quarterly Net Revenues of Netflix 2017-2023
Amounts are in millions.
| 2023 | Quarterly Revenue(millions) |
| Q1 | $8,161.5 |
| 2022 | Quarterly Net Revenues (millions) |
| Q1 | $7,868 |
| Q2 | $7,970 |
| Q3 | $7,925.6 |
| Q4 | $7,852 |
| Total | $31,615.55 |
The quarterly net revenues of Netflix increased in the first quarter of 2022 compared to the same quarter in the previous year. However, the quarterly net income of the company declined during the first quarter of 2022 compared to 2021 Q1.
In the first quarter of 2022, the company generated $7,868 million in quarterly revenues compared to $7,163 million in the first quarter of the previous year. However, its number of paid memberships declined in the first quarter of 2022 compared to the last quarter of 2021. At the end of fiscal 2021, the number of paid memberships was 221.84 million, which has declined to 221.64 at the end of the first quarter of 2022. The company expects the number of paid memberships to further decline by 2 millions in the second quarter of 2022. Its EPS (earnigns per share diluted) was $3.53 in the first quarter of 2022 compared to $3.75 in the same period an year ago.
| FY 2021 | Net Revenues ($mn) |
| Q1 | $7,163.3 |
| Q2 | $7,342 |
| Q3 | $7,483 |
| Q4 | $7,709 |
| Total | $29,515.5 |
Netflix had a highly profitable 2021. The company enjoyed solid growth in its net revenues and income during the year. By the end of the year, the company had around 222 million subscribers. Its net revenues for each of the four quarters remained higher than $7 billion and the total net revenues for fiscal 2021 reached $29.5 billion compared to $25 billion for the previous year.
| FY 2020 | Net Revenues ($mn) |
| Q1 | $5,767.7 |
| Q2 | $6,148.3 |
| Q3 | $6,435.64 |
| Q4 | $6,644.44 |
| Total | $24,996.056 |
Netflix achieved strong revenue growth in 2020 compared to the previous year. The company generated net revenues worth $24.996 billion in 2020 compared to $20.16 billion in 2019.
| FY 2019 | Total revenues including DVD ($millions) |
| Q1 | $4,521 |
| Q2 | $4,923 |
| Q3 | $5,245 |
| Q4 | $5,467 |
| Total | $20,156.45 |
In the 1st quarter of FY 2019, the net revenue of Netflix including DVD segment revenues grew to $4.52 Billion (22.2% yoy growth). Netflix had forceast $4.93 Billion revenue for the second quarter. The number of paid streaming memberships globally in the first quarter had grown to higher than 148 millions. During the year 2019, the number of subscribers grew past 167 million.
| FY 2018 | Total Revenues including DVD ($millions) |
| Q1 | $3,701 |
| Q2 | $3,907 |
| Q3 | $3,999 |
| Q4 | $4,187 |
| FY 2017 | Total Revenues including streaming and DVD (Millions) |
| Q1 | $2,637 |
| Q2 | $2,785 |
| Q3 | $2,985 |
| Q4 | $3,286 |
About Netflix:
Netflix is the world’s leading subscription streaming entertainment service with more than 167 million subscribers. User across 190 countries enjoy TV series, documentaries and feature films offered by Netflix in a wide variety of genres and several languages. The company was founded in 1997. However, it launched its streaming services in 2007. Previously, the company operated its business as three different segments – Netflix US Streaming, Netflix International Streaming and DVD. However, starting 2019, Netflix operates its global business as one segment. The headquarters of Netflix are located at Los Gatos, California, United States.
Abhijeet Pratap is a passionate blogger with seven years of experience in the field. Specializing in business management and digital marketing, he has developed a keen understanding of the intricacies of these domains. Through his insightful articles, Abhijeet shares his knowledge, helping readers navigate the complexities of modern business landscapes and digital strategies.