Netflix reveals the staggering amount they earned in Australia last year
Netflix reveals the staggering amount they made in Australia last year – and the miniscule amount of tax they paid will leave you reeling
Netflix has revealed that it made a whopping $1.06 billion in Australia in 2022, with an estimated five million subscribers.
According to documents released with the Australian Securities and Investments Commission, Netflix paid $996 million in fees and charges, leaving it with a profit of $22.7 million.
It now faces a relatively small tax bill of $6.9 million, leaving an earnings report of $15.8 million The Australian Financial Review.
Netflix’s biggest hits in the past year include Stranger Things, Ozark and Heartbreak High from Australia.
From January 2022, the platform began billing its Australian subscribers locally.
Netflix has revealed it made a whopping $1.06 billion in Australia in 2022, from an estimated five million subscribers reports The Australian Financial Review Pictured: The US drama Stranger Things, one of Netflix’s most-watched shows
According to documents released with the Australian Securities and Investments Commission, Netflix paid out $996 million in fees and charges, leaving it with a profit of $22.7 million. Pictured: Australia’s Heartbreak High, which was a worldwide hit for Netflix
Netflix now faces a $6.9 million tax bill, leaving a profit of $15.8 million, The Australian Financial Review reports. Pictured, Netflix drama Ozark
Previously, Australian subscribers were billed off-shore in the Netherlands.
And just last month, the media giant announced it would crack down on subscription sharing in Australia with new technology to stop credential sharing.
The move will be a major blow to the thousands of families who share their passwords.
The popular streaming service made the announcement in late May for more than 100 countries, including Australia.
The major change only applies to subscribers who share their passwords with other households.
A subscriber using the account for themselves, across multiple devices, will not be affected.
If someone is using the streaming service from a different location and they don’t own the account, they’ll be kicked off.
Meanwhile, the streaming giant could be forced to funnel back up to $200 million to produce more shows Down Under.
As of January 2022, the plagued platform began billing its Australian subscribers locally
Last month, the media giant announced it would crack down on subscription sharing in Australia with new technology to stop sharing credentials. Pictured: Byron Baes
There is currently an ongoing investigation by the federal government, led by The Australian Communications and Media Authority (ACMA), into imposing quotas on streaming services to boost local production.
ACMA estimates that the streamers currently operating Down Under spent $335.1 million in the past fiscal year.
Netflix, which does not disclose its subscriber numbers, had a world hit with the Australian drama Heartbreak High.
The reboot of the 1990s local high school drama racked up 33 million viewer hours in a matter of weeks, after it dropped on the streamer last September.