After reporting for the first time last year that the company was no longer going to funnel revenue through a Netherlands-based subsidiary, Netflix has reported making more than $1 billion from Australian subscribers in 2022.
The company made $1.06 billion in Australia in 2022 and now describes itself as a “distributor of access” to Netflix Service, rather than a provider of services for its parent company, reports the AFR.
While these numbers were left only to speculation and estimation in recent years, it was the news that customers were starting to be billed by Netflix Australia instead of Netflix International BV which meant subscription revenue was being recognised and taxed locally in Australia.
While $1.06 billion is nothing to bat an eyelid at, accounts filed with the Australian Securities and Investments Commission show that Netflix Australia paid $966 million to the Netflix Group in distribution fees, which means the company in Australia made $22.7 million. After income tax, the company reported only a $15.8 million profit for the year.
According to the Australian Communications and Media Authority, streaming services as a whole made $2.49 billion in Australia in 2021.
The news of how much Netflix makes from Australian subscribers comes as Netflix also revealed the findings from its latest film and series diversity study.
The report is the second release of the six-year, three-part study that helps hold the Australian TV industry accountable and effect lasting change in the Australian TV industry.
This comes after Screen Australia recently shared the findings from Seeing Ourselves 2 Report, the second report that looks into diversity, equity and inclusion in Australian TV drama.
Among the key findings in the streamer’s report is that Netflix has achieved gender equality in leading roles. More than half (55%) of all Netflix films and series from 2018-2021 featured a girl or woman as the lead or co-lead.
There has been an increased representation for people of colour in leading roles. According to the report, in 2020-2021, nearly half (47%) of Netflix films and series featured a lead or co-lead from an underrepresented racial/ethnic group.
See Also: Netflix reveals the findings from its latest film and series diversity study