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Netflix makes most of its money from monthly streaming membership fees. Advertising is an additional and growing revenue stream, while consumer products, live experiences and other activities contribute much smaller amounts. For context, Netflix reported $45.183 billion in 2025 revenue and $12.56 billion in the second quarter of 2026.
Where does Netflix’s revenue come from?
Netflix’s 2025 Form 10-K says its revenue is primarily derived from monthly membership fees for streaming services. Members are billed in advance, and Netflix recognizes the revenue over the month in which the service is provided. That recurring subscription relationship is the company’s financial foundation, even though plan choices and prices vary by market. Netflix 2025 Form 10-K
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For 2025, Netflix reported $45.183 billion in revenue, up 16% from 2024. The company attributed the increase primarily to membership growth, price increases and increased advertising revenue, partially offset by foreign-exchange changes net of hedging. Netflix 2025 Form 10-K
How subscriptions generate revenue
Netflix sets different price points so customers can select plans suited to their circumstances and needs. It periodically adjusts prices, saying that this helps fund improvements to the service, and tests plans and price points to understand demand. The company says it cares about membership growth but primarily focuses on long-term revenue maximization. Netflix investor FAQ
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- Unlimited movies, TV shows, and more. Watch anywhere. Cancel anytime.
- Give the gift of entertainment so your friends and family can stream unlimited films and Netflix original series. Whether your loved one already has a Netflix account or they will be creating a new account, they can use a Netflix gift card toward their membership.
- No credit card is required to redeem a gift code.
- Codes are applied to your account as a gift balance
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When Netflix is included in a bundle, the payment path can differ from a customer paying Netflix directly. Electronics manufacturers, cable and other multichannel distributors, mobile operators and internet service providers may partner to provide access. If a partner sets a bundle price and there is no separate Netflix price, Netflix recognizes the net amount it collects from that partner as revenue. Netflix 2025 Form 10-K
Does Netflix make money from ads?
Yes. Netflix sells advertising shown on its streaming service. The ad-supported plan is still a paid membership: its subscription fee is distinct from the revenue Netflix earns by selling ads. The plan can offer customers a lower-priced way to subscribe while giving Netflix another source of revenue and profit. Netflix Q2 2026 Shareholder Letter
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- Unlimited movies, TV shows, and more. Watch anywhere. Cancel anytime.
- Give the gift of entertainment so your friends and family can stream unlimited films and Netflix original series. Whether your loved one already has a Netflix account or they will be creating a new account, they can use a Netflix gift card toward their membership.
- No credit card is required to redeem a gift code.
- Redemption: Online
- No Returns and Refunds on Gift Cards
Netflix reported $12.56 billion in total revenue for Q2 2026, up 13.4% year over year, and said growth was driven primarily by membership growth, pricing and increased ad revenue. The letter did not provide an exact reported advertising-revenue amount that can be separated from total revenue. Instead, it forecast approximately $3 billion in advertising revenue for full-year 2026, roughly double the prior year. That is management’s forecast, not a final reported result. Netflix Q2 2026 Shareholder Letter, July 16, 2026
Netflix describes ad-member growth, improving the share of available ad space it fills, and maintaining strong CPMs—the price advertisers pay per thousand impressions—as long-term growth drivers. Its Q2 2026 letter also highlighted its programming slate, ad technology, Netflix Ads Suite, AI-powered advertising tools and wider programmatic access. Netflix Q2 2026 Shareholder Letter
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- No credit card required.
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- No returns and no refunds on gift cards.
What do the 2026 revenue figures mean?
Netflix’s Q2 2026 shareholder letter gave a full-year revenue forecast of $51.0 billion to $51.4 billion. It also forecast approximately $3 billion in advertising revenue for the year. Both are forecasts issued on July 16, 2026, not realized full-year results. Netflix Q2 2026 Shareholder Letter
| Figure | What it represents |
|---|---|
| $45.183 billion | Netflix’s reported 2025 revenue, from its 2025 Form 10-K. Source |
| 16% | Reported 2025 revenue growth versus 2024, as stated in the 2025 Form 10-K. Source |
| $12.56 billion | Reported total revenue for Q2 2026. Source |
| 13.4% | Q2 2026 revenue growth year over year. Source |
| $51.0–$51.4 billion | Netflix’s full-year 2026 revenue forecast, issued July 16, 2026. Source |
| Approximately $3 billion | Netflix’s full-year 2026 advertising revenue forecast, issued July 16, 2026; not a reported final result. Source |
What are Netflix’s other revenue sources?
Netflix also reports revenue from consumer products, live experiences and various other sources. These activities are supplemental, not comparable in scale to memberships: the company said non-membership sources were not a material component of revenue in 2023, 2024 or 2025. Netflix 2025 Form 10-K
Quick Recap
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- Unlimited movies, TV shows, and more. Watch anywhere. Cancel anytime.
- Give the gift of entertainment so your friends and family can stream unlimited films and Netflix original series. Whether your loved one already has a Netflix account or they will be creating a new account, they can use a Netflix gift card toward their membership.
- No credit card is required to redeem a gift code.
- Codes are applied to your account as a gift balance. Gift codes can be added to any plan, regardless of the amount.
- Redemption: Online
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- Unlimited movies, TV shows, and more. Watch anywhere. Cancel anytime.
- Give the gift of entertainment so your friends and family can stream unlimited films and Netflix original series. Whether your loved one already has a Netflix account or they will be creating a new account, they can use a Netflix gift card toward their membership.
- No credit card is required to redeem a gift code.
- Codes are applied to your account as a gift balance. Gift codes can be added to any plan, regardless of the amount.
- Redemption: Online
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
