Netflix UK revenues hit £1.8bn but profit growth slows

Netflix UK increased its subscriber revenue of 11% to reach £1.8 billion in 2024, despite its profits slowing down, according to its latest financial account.

In the company’s home filing with its subsidiary Netflix Services UK, the streaming giant’s revenues rose from £1.7 billion in 2023.

Netflix has released its Amsterdam-based Netflix International Business and US Business Netflix, Inc. We thought this was due to the membership fees and services provided to the company.

The UK business has not broken down its subscriber count, but added that the average number of paid members has increased by 11%. According to Barb’s recent establishment survey, Netflix has increased its presence in UK housing, reaching 17.4m in the first quarter of 2025, up from 17.1m in the fourth quarter of 2024.

However, Netflix UK’s total operating profit reached £43.2 million, up from £53.7 million in 2023 last year. This is the fifth decline compared to the previous year.

This affected post-tax profits, which rose 3% to £47.8m, up 3% from £46.5m last year. This figure jumped almost three-quarters of the results in 2023.

The company also raised the tax bill increase from £14.2 million in 2023 to £15.3 million.

It’s the best year for Netflix UK dramas, with the release of Richard Gadd’s seven-part series Baby Reindeer It was produced by Clerkenwell in April 2024. Deceive me once The first episode attracted 10.4m viewers one day The opener has a 4.2m tuning.

On the film side, Ben Taylors joy We landed on the platform. Edward Burger’s A ballad of a small player, Commissioned by the UK, it was produced by Matthew James Wilkinson for Mike Goodridge’s Good Chaos, Burger’s 9 Hours and Stigma Films, and began production in Macau and Hong Kong. Peaky blinds I’ve also started filming.

Film4’s outgoing head Ollie Madden will take the reins on Netflix this October and lead the film strategy that has revived on Netflix.

Netflix said: “We are taking a leading role in raising the UK’s creative community and are committed to investing in the UK’s creative industry. Netflix creates meaningful new opportunities through initiatives like the Documentary Talent Fund and develops emerging talent throughout the creative process.”

This version of the story has first appeared on the on-screen sister site “Broadcast.”