Netflix Statistics 2026-2027
By Axis Intelligence Research
Co-author: Alex Rivera | Last updated: November 9, 2026 | License: CC BY 4.0
Netflix crossed 325 million paid memberships in Q4 2025 and has not published a count since. What it does publish shows each hour of viewing earning more: Axis Intelligence Research calculates Netflix took in 25.4 cents of revenue per hour watched in the first half of 2026, up 12.6% from a year earlier, while hours watched grew 1.9%.
Quick Answer
Netflix last disclosed paid memberships in Q4 2025: more than 325 million. Q3 2026 revenue was $12.87 billion, up 12%, at a 34.6% operating margin, and Netflix guides 2026 revenue to $51.1 billion. Its ad plan reaches over 250 million monthly active viewers. US plans cost $8.99 with ads, $19.99 and $26.99.
Key Findings
- Axis Intelligence Research calculates that Netflix earned 25.4 cents per hour watched in H1 2026, up 12.6% from 22.6 cents a year earlier, on 97.7 billion hours.
- Axis Intelligence Research’s Viewing-Hour Margin (VHM), revenue minus content amortization per hour watched, reached 16.7 cents in H1 2026, up from 14.6 cents a year earlier.
- Axis Intelligence Research calculates that 62.9% of Netflix’s 2026 revenue increase through September came from outside the US and Canada, which supplied 44.1% of revenue a year earlier.
- Axis Intelligence Research estimates Netflix’s like-for-like Q3 2026 margin gain was 1.0 point, not the reported 6.4, after removing a $619 million Brazilian tax charge from Q3 2025.
- Netflix said on October 20, 2026 that it expects about $2.7 billion of advertising revenue in 2026, down from about $3 billion, per its Q3 2026 shareholder letter.
How Many Subscribers Does Netflix Have in 2026?
At least 325 million paid memberships, and no newer number. Netflix said in its Q4 2025 shareholder letter, dated January 20, 2026, that it “crossed the 325M paid memberships milestone” during the quarter. Every letter since, through the October 20, 2026 Q3 letter, has left the count out.
That silence was announced. In its Q4 2024 letter, Netflix said it would no longer report paid memberships and average revenue per membership (ARM) quarterly, and would announce memberships as it crosses key milestones. The last figure before the milestone era was 301.63 million at December 31, 2024.
What has Netflix actually disclosed about its audience?
| Disclosure | Figure | As of | Source |
|---|---|---|---|
| Paid memberships | 301.63 million | Dec 31, 2024 | Netflix Q4 2024 letter |
| Paid net additions | 41.36 million | FY2024 | Netflix Q4 2024 letter |
| Paid memberships milestone | 325 million crossed | Q4 2025 | Netflix Q4 2025 letter |
| Audience (people, not accounts) | “Approaching one billion” | Q4 2025 and Q3 2026 letters | Netflix |
| Ad-plan monthly active viewers | More than 250 million (more than 190 million in Nov 2025) | May 13, 2026 | Netflix Upfront 2026; Netflix ads update, Nov 5, 2025 |
Two Axis Intelligence Research calculations follow from the table. Because Netflix crossed 325 million during Q4 2025, it added at least 23.4 million paid memberships in 2025 (325 minus 301.63). And because the audience is below one billion while memberships are at least 325 million, Netflix reaches no more than about 3.1 viewers per paid membership.
How fast did Netflix’s subscriber count grow before it stopped reporting?
By 15.9% in 2024, to 301.63 million. Netflix’s Q4 2024 letter carries the last full quarterly series of paid memberships.
| Quarter end | Paid memberships | Source |
|---|---|---|
| Dec 31, 2023 | 260.28 million | Netflix Q4 2024 letter |
| Mar 31, 2024 | 269.60 million | Netflix Q4 2024 letter |
| Jun 30, 2024 | 277.65 million | Netflix Q4 2024 letter |
| Sep 30, 2024 | 282.72 million | Netflix Q4 2024 letter |
| Dec 31, 2024 | 301.63 million | Netflix Q4 2024 letter |
| Q4 2025 | More than 325 million (milestone) | Netflix Q4 2025 letter |
Growth of 15.9% is an Axis Intelligence Research calculation (301.63 ÷ 260.28 − 1). Netflix has published no count between the 2024 year-end figure and the 325 million milestone.
Is the ad plan’s 250 million the same as 250 million subscribers?
No. Netflix says its ad plan reaches more than 250 million global monthly active viewers (MAV), with over 80% of ads members actively watching each week. Netflix defines MAV in its November 5, 2025 ads update as members who watched at least one minute of ads in a month, multiplied by an estimated average household size from its own research. That post put MAV at more than 190 million, so the move to more than 250 million is on one definition: Axis Intelligence Research calculates growth of at least 31.6% in about six months from the two stated figures. It counts people, not accounts or paying memberships.
Alex Rivera: Treat 325 million as a floor with an expiry date. Netflix has said it will announce memberships again at key milestones, so the next number arrives when Netflix chooses to publish it. If you need regional membership estimates in the meantime, our Netflix subscribers by region analysis derives them from revenue instead.
How Much Money Does Netflix Make in 2026?
About $51.1 billion on Netflix’s own guidance, up 13% from $45.2 billion in 2025. Through nine months, revenue is $37.68 billion and operating income $12.61 billion, a 33.5% margin, per the Q3 2026 letter.
Netflix revenue and operating margin by quarter, 2025 to Q4 2026 guidance
| Quarter | Revenue | Operating margin | Source |
|---|---|---|---|
| Q1 2025 | $10,543M | 31.7% | Netflix Q2 2026 and Q1 2026 letters |
| Q2 2025 | $11,079M | 34.1% | Netflix Q2 2026 letter |
| Q3 2025 | $11,510M | 28.2% | Netflix Q3 2025 letter |
| Q4 2025 | $12,051M | 24.5% | Netflix Q4 2025 letter |
| Q1 2026 | $12,250M | 32.3% | Netflix Q1 and Q2 2026 letters |
| Q2 2026 | $12,560M | 33.4% | Netflix Q2 2026 letter |
| Q3 2026 | $12,874M | 34.6% | Netflix Q3 2026 letter |
| Q4 2026 (guidance) | $13,442M | 26.0% | Netflix Q3 2026 letter |
Values in US dollars as reported at each letter. Full-year 2025 revenue was $45,183M at a 29.5% margin. Netflix’s 2026 operating margin target is 31.5%, and its free cash flow guide is about $12.0 billion, down from $12.5 billion.
Q4 is guided lower. Netflix said the 26.0% figure includes about 120 basis points from headcount reductions announced in the quarter, and about 30 basis points for the full year.
Why did Netflix’s operating margin jump 640 basis points in Q3 2026?
Mostly because the comparison quarter was damaged. Netflix reported a 34.6% margin in Q3 2026 against 28.2% in Q3 2025, a 6.4-point gain. But Q3 2025 absorbed a Brazilian tax matter expense of about $619 million, booked in cost of revenues and covering 2022 through that quarter, per the Q3 2025 letter.
According to Axis Intelligence Research, adding the $619 million back puts Q3 2025’s margin at 33.6% ($3,248.2M plus $619M, divided by $11,510.3M). Against that base, Q3 2026’s 34.6% is a 1.0-point improvement. Netflix gives no ex-charge margin itself, and about 20% of the charge relates to 2025, so this is an Axis estimate that treats the whole charge as one-time.
A second number sits outside the margin entirely. Q1 2026 net income of $5.28 billion included a $2.8 billion termination fee from Warner Bros. Discovery, booked in interest and other income, not operating income (see the Warner Bros. section below).
Alex Rivera: The 640 basis points will get quoted. The 1.0 point is the one that describes the business. Netflix is still widening margin, just at the pace of a company that already earns a third of every revenue dollar as operating profit.
Where Is Netflix’s Revenue Growth Coming From?
Increasingly from outside its home region. Netflix reports revenue in four regions: US and Canada (UCAN), Europe, Middle East and Africa (EMEA), Latin America (LATAM) and Asia-Pacific (APAC). UCAN is still the biggest, at $5,628M or 43.7% of Q3 2026 revenue, but it is not where the growth is concentrated.
Share of Netflix’s 2026 revenue increase by region, nine months
| Region | Revenue, 9M 2026 | Revenue, 9M 2025 | Increase | Share of increase | Share of 9M 2025 revenue | Source |
|---|---|---|---|---|---|---|
| UCAN | $16,305M | $14,618M | $1,687M | 37.1% | 44.1% | Netflix Q3 2026 financials, Axis calc. |
| EMEA | $12,139M | $10,642M | $1,497M | 32.9% | 32.1% | Netflix Q3 2026 financials, Axis calc. |
| LATAM | $4,684M | $3,940M | $744M | 16.4% | 11.9% | Netflix Q3 2026 financials, Axis calc. |
| APAC | $4,556M | $3,933M | $623M | 13.7% | 11.9% | Netflix Q3 2026 financials, Axis calc. |
| Total | $37,684M | $33,132M | $4,552M | 100% | 100% | Netflix 10-Q, Axis calc. |
Nine-month regional revenue as published by Netflix in thousands, shown here in millions; shares are computed from the unrounded figures and may not add to exactly 100% because of rounding.
Axis Intelligence Research finds that EMEA, LATAM and APAC together supplied 62.9% of the revenue increase ($2,864M of $4,552M), while UCAN supplied 37.1% from a base that is 44.1% of revenue. The reported growth rates in Q3 2026 show why the mix matters: LATAM grew 17% reported but 12% on a foreign-exchange-neutral basis, and EMEA 11% reported against 9% neutral, while APAC grew 12% reported and 15% neutral. Currency moved some of the headline: the 10-Q puts the nine-month foreign-exchange tailwind at $508 million, about 11% of the increase, so Axis Intelligence Research estimates revenue grew about 12.2% for nine months before currency, against 13.7% reported (the $4,552M increase less $508M, over $33,132M). It did not move the ranking.
India shows how this works at country level. Netflix said in the Q3 2026 letter that India view hours grew 24% year over year and revenue about 18% on a foreign-exchange-neutral basis, with its largest quarter ever for paid net additions there, helped by a loyalty bundle with Flipkart.
Alex Rivera: UCAN pays the bills and the other three regions pay the raise. Price is the lever in the US, where Netflix raised prices in the first half of 2026. Elsewhere the lever is new members and the ad plan, which is why the March 2027 ad launch in a dozen more markets matters more to the regional mix than any US price change.
How Much Does Netflix Earn From Every Hour Watched?
25.4 cents in the first half of 2026. This is the question Netflix’s shift away from subscriber counts makes most useful: if memberships are hidden, revenue per unit of attention is the honest yardstick of what the product earns.
Viewing-Hour Margin (VHM): an Axis Intelligence Research metric
Viewing-Hour Margin (VHM) measures how many cents of revenue Netflix keeps, after paying for the content it amortized, on each hour its members watched.
Formula: VHM = (Netflix revenue − amortization of content assets) ÷ view hours in the same period
| Period | Revenue | Content amortization | View hours | Revenue per hour | Content cost per hour | VHM |
|---|---|---|---|---|---|---|
| H1 2025 | $21,622M | $7,655M | 95.85B | 22.6¢ | 8.0¢ | 14.6¢ |
| H2 2025 | $23,561M | $8,767M | 96.21B | 24.5¢ | 9.1¢ | 15.4¢ |
| H1 2026 | $24,810M | $8,529M | 97.67B | 25.4¢ | 8.7¢ | 16.7¢ |
| FY2025 | $45,183M | $16,422M | 192.06B | 23.5¢ | 8.6¢ | 15.0¢ |
Revenue and amortization from Netflix’s shareholder letters and statements; view hours from Netflix’s What We Watched reports for H1 2025, H2 2025 and H1 2026. View hours are the totals in the engagement workbooks Netflix publishes with each report, including the “Other” rows for titles under 50,000 views; the H1 2025 total adds the 662.6 million “Other” hours Netflix restated in its H1 2026 workbook. As of November 9, 2026.
Axis Intelligence Research estimates that Netflix’s VHM rose 14.4% year over year in H1 2026, to 16.7 cents. Revenue per hour rose 12.6% and content cost per hour rose 9.3%, so each hour paid for its content and kept more besides. The wedge is plain: revenue grew 14.7% while view hours grew 1.9%, nearly an eight-to-one ratio. Growth at Netflix in 2026 is a story about what each hour earns, not how many hours people watch.
This metric sits beside the market-level figure on our streaming statistics page, which shows $0.256 per hour for H1 2026 from a rounded hours figure; the exact workbook total gives $0.254. The VHM adds the cost of content and a time series.
Alex Rivera: Last year’s baseline is the useful part. In H1 2025 an hour of Netflix left 14.6 cents after content costs; in H1 2026 it leaves 16.7. Netflix does not need you to watch more to grow. It needs the ad plan, the price tiers and new markets to turn the hours you already watch into more revenue, and so far they are.
How long does the average Netflix membership watch per day?
At most about 100 minutes. Divide 97.67 billion H1 2026 view hours by 325 million paid memberships and 181 days and you get 1.66 hours per membership per day, or at most 50.1 hours a month. That is an Axis Intelligence Research estimate that assumes memberships stayed at or above 325 million, and it counts membership households, not individual viewers: with up to about 3.1 viewers per membership, the per-person figure is far smaller.
What Are People Watching on Netflix?
Films led the first half of 2026. Netflix’s H1 2026 engagement report, published July 16, 2026, counts views as hours viewed divided by runtime.
Most-watched Netflix titles, January to June 2026
| Title | Format | Views | Source |
|---|---|---|---|
| War Machine | Film | 147M | Netflix What We Watched H1 2026 |
| The Rip | Film | 136M | Netflix What We Watched H1 2026 |
| Swapped | Animated film | 131M | Netflix What We Watched H1 2026 |
| Apex | Film | 129M | Netflix What We Watched H1 2026 |
| His & Hers | Series (most-watched show) | 104M | Netflix What We Watched H1 2026 |
| Bridgerton season 4 | Series | 100M | Netflix What We Watched H1 2026 |
| Thrash | Film | 100M | Netflix What We Watched H1 2026 |
Window is January 1 to June 30, 2026. Shareholder letters use a 91-day window for new titles, so the same title can show a different count in a letter. In the Q3 2026 letter, The Last House led new releases with 91 million views over 91 days.
Non-English titles account for more than a third of all viewing, per the H1 2026 report. In H2 2025, viewing of Netflix originals rose 9% while viewing of non-branded content fell because there was less licensed second-run material, per the Q4 2025 letter.
Is Netflix growing on new releases or on its back catalogue?
New releases supplied 18.4% of H1 2026 viewing, down from 19.9% a year earlier. Axis Intelligence Research counts titles with a release date inside the half-year as new: 17.9 billion of 97.7 billion hours in H1 2026, against 19.1 billion of 95.8 billion in H1 2025. The 100 most-watched titles supplied 18.9% of hours in both periods, so viewing is not concentrating in hits. For content buyers the reading is plain: more than four of every five hours go to titles released before the period began or to titles with no release date, so catalogue depth matters as much as the slate.
Calculated from the engagement workbooks for H1 2025 and H1 2026; titles with no release date count as not new. H1 2026 “Other Shows” includes video podcasts, per Netflix’s footnote.
How much does live programming matter to Netflix?
It is a small share of viewing and a large share of cost. Netflix said live programming would be just over 5% of 2026 content spend but about 1% of view hours, per the Q2 2026 letter. That implies live costs about five times the average per hour viewed, an Axis Intelligence Research calculation from Netflix’s two shares. The payoff Netflix cites is sign-ups: live events accounted for six of its top 10 new-member sign-up days in five years. In Q1 2026 Netflix ran more than 70 live events, and the World Baseball Classic in Japan drew 31.4 million viewers. For the sports side of the model, including the National Football League (NFL) games Netflix streams, see our NFL streaming statistics.
How Big Is Netflix’s Ad Tier in 2026?
Large in audience, still small in revenue. Netflix’s ad plan reaches more than 250 million monthly active viewers, and the ads plan accounted for over 60% of sign-ups in ad-supported countries in Q1 2026, per the Q1 2026 letter. That letter also reported more than 4,000 advertisers, up 70% year over year.
Netflix advertising metrics, 2025 to 2027
| Metric | Figure | As of | Source |
|---|---|---|---|
| Ad-plan monthly active viewers | More than 250 million (more than 190 million in Nov 2025) | May 13, 2026 | Netflix Upfront 2026; Netflix ads update, Nov 5, 2025 |
| Share of sign-ups on the ads plan | Over 60% | Q1 2026 | Netflix Q1 2026 letter |
| Advertisers | Over 4,000 (+70% YoY) | Q1 2026 | Netflix Q1 2026 letter |
| Advertising revenue | Over $1.5 billion | FY2025 | Netflix Q4 2025 letter |
| Advertising revenue expectation | About $2.7 billion (was about $3 billion) | FY2026 | Netflix Q3 2026 letter |
| Ad plan launches | 15 new countries, from March 2027 | 2027 | Netflix Q3 2026 letter, Upfront 2026 |
Netflix does not disclose how many accounts are on the ads plan. MAV counts people, not accounts.
Ads are about a fifth of the growth, not most of it. Netflix’s Form 10-Q for the quarter ended September 30, 2026 attributes the nine-month revenue increase of $4,552 million mainly to $3,472 million of subscription growth and $864 million of advertising growth. Axis Intelligence Research calculates advertising supplied 19.0% of the increase and subscriptions 76.3%; in Q3 alone the split was 18.8% and 77.5% ($256M and $1,057M of $1,364M). Netflix says subscription growth reflects more memberships and higher prices, so the ads plan is so far a way in, not the revenue engine.
Netflix cut its 2026 ad expectation to about $2.7 billion because of what it called a slightly slower rollout of some ad product capabilities. Even at the lower number, Axis Intelligence Research calculates ads will be 5.3% of 2026 revenue, up from at least 3.3% in 2025 ($2.7B of $51.1B against $1.5B of $45.2B). Dividing the $2.7 billion by the 250 million MAV gives about $10.80 per monthly active viewer per year, an Axis estimate that mixes full-year guidance with a May audience figure and should be read as an order of magnitude.
Netflix said its US upfront closed on August 10, 2026 with ad commitments that “nearly doubled” this year, without a baseline. The first 2027 tranche of ad launches, in March, covers nine EMEA countries, Colombia, Peru and New Zealand. For the wider market, see our connected TV advertising statistics.
How Much Does Netflix Cost in 2026?
In the US, $8.99 a month with ads, $19.99 for Standard and $26.99 for Premium, per Netflix’s pricing page as retrieved on November 9, 2026. Netflix has discontinued its Basic plan.
Netflix US plan prices, November 2026
| Plan | Price per month | Streams | Video quality | Source |
|---|---|---|---|---|
| Standard with ads | $8.99 | 2 | 1080p | Netflix Help Center |
| Standard | $19.99 | 2 | 1080p | Netflix Help Center |
| Premium | $26.99 | 4 | 4K and HDR | Netflix Help Center |
Extra members cost $7.99 with ads or $9.99 without. Taxes may apply. As of November 9, 2026.
Removing ads costs $11.00 a month, 2.22 times the ads plan, an Axis Intelligence Research calculation, and Premium costs 35.0% more than Standard. The ads plan is 45% of the Standard price. Netflix said first-half price changes in the US, Mexico and Spain went well, with member response consistent with earlier changes, per the Q2 2026 letter.
One way to price an hour: at the global average of at most 50.1 hours per membership per month, the ads plan costs at least 17.9 cents per hour watched, Standard 39.9 cents and Premium 53.9 cents. That is an illustration using global average viewing, not US viewing, and a household that watches more pays less per hour.
Alex Rivera: At 45% of Standard’s price, the ads plan is the verdict for most households that watch on one or two screens and do not need 4K. Pay up for Standard if ads break how you watch; pay for Premium only if you stream 4K to a big screen or share across four devices. Netflix’s own sign-up data says most new members in ad countries have already made the first choice.
How Much Does Netflix Spend on Content?
About $17.1 billion in cash in 2025 and rising. Netflix’s additions to content assets were $17.10 billion in FY2025, and its amortization of content assets, the expense that reaches the income statement, was $16.42 billion, up 7.3% from $15.30 billion in 2024, per the Q4 2025 letter.
Netflix content investment, 2025 and 2026
| Metric | Figure | Period | Source |
|---|---|---|---|
| Content amortization | $16,422M | FY2025 | Netflix Q4 2025 letter |
| Cash content spend (additions to content assets) | $17,097M | FY2025 | Netflix Q4 2025 letter |
| Content additions | $14,934M | Nine months 2026 | Netflix Q3 2026 letter |
| Content amortization | $12,765M | Nine months 2026 | Netflix Q3 2026 letter |
| Cash spend to amortization | 1.17x (guide: about 1.1x for the year) | Nine months 2026 | Axis calc., Netflix guidance |
| Streaming content obligations | $25,223M | Sep 30, 2026 | Netflix Q3 2026 letter |
Netflix guides 2026 content amortization growth to about 10%, slower in the second half.
Nine-month spend is running ahead of the annual ratio: 1.17 times amortization against a guide of about 1.1 times for the year. Netflix’s full-year guide therefore implies fourth-quarter additions below fourth-quarter amortization.
How Much of US TV Time Does Netflix Get?
7.7% in August 2026, second to YouTube’s 15.8%. In Nielsen’s August 2026 Gauge, released October 22, 2026, streaming made up 49.6% of US TV watch time, broadcast 17.5% and cable 18.9%.
Axis Intelligence Research calculates that Netflix held 15.5% of all streaming time on US televisions in August 2026 (7.7% of 49.6%), and that YouTube’s share was 2.05 times Netflix’s. Disney Streaming had 4.8%, Prime Video 4.2%, Roku Channel 2.9%, Paramount Streaming 2.3%, Tubi 1.9%, Peacock 1.6% and Warner Bros. Discovery 1.4% in the same release. Netflix itself puts its share of global TV time at about 5% in its Q1 2026 letter, and says it reaches less than 45% of the broadband households in its addressable market. August is a seasonal month: total TV usage fell 4.4% from July.
Is Netflix’s share of US TV time rising or falling?
Falling, and YouTube is the gap. Nielsen’s Gauge trend chart puts Netflix at 8.7% in August 2025, a high of 9.0% in December 2025 and 7.7% in August 2026, a decline of 1.0 percentage point in a year while streaming as a whole gained 3.2 points (46.4% to 49.6%). YouTube rose 2.7 points, from 13.1% to 15.8%. Axis Intelligence Research calculates that Netflix’s share of streaming time fell from 18.8% to 15.5% (8.7 ÷ 46.4 and 7.7 ÷ 49.6). Nielsen notes that The Gauge does not reflect its currency TV ratings and that it is updating the reports for the fall season, so treat month-to-month comparisons as indicative.
For the market-wide picture, see our streaming statistics, streaming market share, YouTube statistics and cord-cutting statistics pages.
What Happened to Netflix’s Warner Bros. Deal?
It ended, and Netflix collected $2.8 billion. In its Q4 2025 letter, Netflix said its merger agreement to acquire Warner Bros., including its studios, HBO Max and HBO, had been amended to an all-cash deal at $27.75 per Warner Bros. Discovery share. The Q1 2026 letter then reported that Netflix declined to raise its offer and received a $2.8 billion termination fee, recorded in interest and other income.
The fee explains Q1’s $5.28 billion of net income and $5.09 billion of free cash flow, and the letters tie higher cash taxes in Q2 partly to it. With the deal gone, Netflix resumed buybacks: $1.3 billion in Q1, $4.7 billion in Q2 and $4.8 billion in Q3, its largest quarter ever, with $22.3 billion of authorization left. Cash was $8.2 billion and net debt $7.1 billion at September 30, 2026, against net debt of $2.1 billion at March 31.
What Is Already Scheduled for Netflix in 2027?
Four dated items, and no new numeric targets. Netflix’s letters from Q4 2025 through Q3 2026 contain no 2027 or 2030 membership targets.
- March 2027: the ad plan launches in the first of 15 new countries: nine EMEA countries, Colombia, Peru and New Zealand, per the Q3 2026 letter. Netflix’s upfront page lists the full 15, including Austria, Belgium, Denmark, Indonesia, Ireland, the Netherlands, Norway, the Philippines, Poland, Sweden, Switzerland and Thailand.
- Q1 2027: Netflix said the What We Watched engagement report becomes annual instead of arriving with earnings, so the next VHM reading will be a full-year one, against an FY2025 baseline of 15.0 cents.
- Q1 2027: a final-week NFL game, per the Q2 2026 letter.
- 2027: podcast and vertical video ad inventory globally, per Netflix’s upfront page.
Four signposts would change the picture on this page: VHM falling while view hours stay flat; UCAN’s share of revenue growth rising back toward its 44% share of revenue; ad revenue landing below $2.7 billion; and the first membership milestone above 325 million.
Related Axis Intelligence Research: streaming subscribers by country for regional membership estimates · Disney+ statistics · Hulu statistics · sports streaming cost calculator.
Methodology
Collection. Every figure was retrieved on November 9, 2026 from the organization that produced it: Netflix shareholder letters for Q4 2024, Q3 2025, Q4 2025 and Q1 to Q3 2026 (SEC Exhibit 99.1), Netflix’s What We Watched reports and engagement workbooks for H1 2025, H2 2025 and H1 2026, Netflix’s Q3 2026 financial workbook and Form 10-Q, its November 5, 2025 ads update, its US pricing page and Upfront 2026 pages, and Nielsen’s August 2026 Gauge and trend chart. No figure comes from a compiler or aggregator, and none was copied from another Axis page.
Formulas. VHM = (revenue − amortization of content assets) ÷ view hours. Half-year revenue and amortization use the six-month statements in the Q2 2026 letter for H1 2025 and H1 2026, and Q3 2025 plus Q4 2025 for H2 2025. Regional shares = regional increase ÷ total revenue increase ($4,551.6M, from the 10-Q). Advertising and subscription shares = the 10-Q’s stated increases ÷ the same total. Q3 2025 margin excluding the Brazilian charge = (operating income + $619M) ÷ revenue. Daily viewing = 97.665 billion hours ÷ 325 million memberships ÷ 181 days.
Rounding rule. Per-hour figures use the unrounded hour totals from Netflix’s workbooks and are stated to one decimal. Daily and monthly viewing per membership divide by 325 million, the milestone floor, so they are ceilings. Netflix publishes revenue in thousands; tables show millions.
Source hierarchy. Netflix’s filings and reports are company-reported; Netflix sells the product it measures, so its engagement figures are company-reported. Nielsen’s Gauge is an independent measurement of US TV screens and covers viewing on a television set only.
About This Dataset
netflix-statistics.csv holds 264 rows: membership history and audience disclosures, quarterly revenue and operating margin from Q1 2025 to Q3 2026 with Q4 guidance, regional revenue by quarter and nine-month sums to the thousand, view hours and every VHM input and result, content spend and amortization, US plan prices, advertising metrics, Nielsen’s August 2026 shares and 13-month trend points, the most-watched titles, the advertising and subscription shares of revenue growth, Warner Bros. transaction and capital figures, and each Axis Intelligence Research calculation with its formula in method_note. Every row carries source organization, document, URL, retrieval date, a primary-source flag and a calculated-by-Axis flag.
License: CC BY 4.0. Free to reuse, including commercially, with attribution: Axis Intelligence Research, Netflix Statistics 2026, 2026.
How to Cite This Research
APA: Axis Intelligence Research, & Rivera, A. (2026, November 9). Netflix statistics 2026: Subscribers, revenue, ad tier and what every hour watched earns. Axis Intelligence. https://axis-intelligence.com/netflix-statistics/
MLA: Axis Intelligence Research, and Alex Rivera. “Netflix Statistics 2026: Subscribers, Revenue, Ad Tier and What Every Hour Watched Earns.” Axis Intelligence, 9 Nov. 2026, axis-intelligence.com/netflix-statistics/.
Chicago: Axis Intelligence Research and Alex Rivera. “Netflix Statistics 2026: Subscribers, Revenue, Ad Tier and What Every Hour Watched Earns.” Axis Intelligence, November 9, 2026. https://axis-intelligence.com/netflix-statistics/.
Frequently Asked Questions About Netflix’s Numbers
Why did Netflix stop reporting subscribers, and when will it publish a number again?
Netflix said in its Q4 2024 letter that it would stop reporting paid memberships quarterly and announce them when it crosses key milestones. The last announcement was more than 325 million in Q4 2025. Netflix has not said when the next milestone will be disclosed.
Does Netflix have 1 billion users?
No. Netflix says its audience is “approaching one billion people,” which counts viewers in member households. Paid memberships are a separate count: more than 325 million at the end of 2025. Axis Intelligence Research calculates the audience is at most about 3.1 viewers per paid membership.
How many people watch Netflix with ads?
More than 250 million monthly active viewers, per Netflix’s May 13, 2026 Upfront announcement, up from more than 190 million in Netflix’s November 2025 update, both on Netflix’s household-based definition. Netflix has not published the number of ads-plan accounts.
Did Netflix raise prices in 2026, and what do the plans cost now?
Netflix said first-half 2026 price changes in the US, Mexico and Spain went well. US prices on November 9, 2026 are $8.99 with ads, $19.99 for Standard and $26.99 for Premium. The Basic plan has been discontinued, per Netflix’s pricing page.
Why did Netflix’s Q3 2026 operating margin rise 6.4 points?
Netflix’s margin rose from 28.2% to 34.6%, but Q3 2025 included about $619 million of Brazilian tax expense. Adding it back, Axis Intelligence Research estimates Q3 2025’s margin at 33.6%, so the like-for-like improvement was about 1.0 point.
Does Netflix make most of its money in the US?
It makes the largest share there: US and Canada supplied $5,628M, or 43.7%, of Q3 2026 revenue. But Axis Intelligence Research finds the other three regions produced 62.9% of the revenue increase in the first nine months of 2026.
How much does Netflix earn per hour watched?
25.4 cents in H1 2026, up from 22.6 cents in H1 2025, per Axis Intelligence Research’s calculation from Netflix’s revenue and its engagement report. After content amortization of 8.7 cents per hour, VHM was 16.7 cents.
How many subscribers did Netflix have in 2024, and how fast was it growing?
301.63 million paid memberships at December 31, 2024, up 15.9% from 260.28 million a year earlier, per Netflix’s Q4 2024 letter. It is the last year-end count Netflix published before moving to milestone announcements.
Is Netflix viewing going up or down?
Hours watched rose 1.9% year over year in H1 2026 (97.67 billion against 95.85 billion), while Nielsen shows Netflix’s share of US television time down 1.0 point in a year, to 7.7% in August 2026, as YouTube and other streamers grew.
Does live sports make money for Netflix?
Netflix does not report live profitability. It says live programming is just over 5% of 2026 content spend and about 1% of view hours, and that live events produced six of its top 10 new-member sign-up days over five years, per the Q2 2026 letter.