The above graph represents Netflix revenue by year, worldwide, starting from fiscal 1998 to the recently completed year. The video streaming giant reported its highest-ever annual revenue of $20,156.45 million in 2019, worldwide. That’s an impressive 27.6% YoY growth in revenue, primarily driven by the growth in the average number of global streaming paid memberships.
Growth in Netflix Annual Revenue: History
|Source||Netflix Annual Reports, SEC Filings|
|Note||Netflix fiscal year starts from January 1st|
Netflix witnessed an incredible 273.9% YoY growth in its global revenue, increased from $1.34 million in 1998 to over $5 million in 1999. Surprisingly, in the following year, the company again showed an astonishing 617% YoY growth in its annual revenue, totalling $35.89 million in 2000.
In 2007, Netflix annual revenue crossed $1 billion for the first time in history, which almost doubled by 2010. The total revenue increased from $1,205.3 million in FY 2007 to $2,162.6 million in FY 2010.
Netflix achieved its first $5 billion annual revenue milestone in FY 2014. The company recorded an impressive 25.8% YoY growth in its revenue, totalling $5,504.7 million or $5.5 billion, globally. In just 3 years, the company doubled its revenue, with an astonishing 32.4% year-over-year growth.
Netflix’s total revenue in fiscal 2018 clocked over $15 billion, worldwide. The 35% YoY growth in the 2018 revenue was primarily led by the fourth quarter’s performance. Netflix Q4 2018 revenue surpassed the $4 billion mark first time in history.
About Netflix Inc.
Netflix Inc. (NASDAQ: NFLX) was founded on August 29, 1997, by Reed Hastings and Marc Randolph as a DVD-rental-by-mail firm. However, the company began its operations on April 14, 1998, by opening the world’s first online DVD rental store. For $19.95 a month, subscribers can rent as many DVDs as they want. The company slowly expanded its business by offering the streaming service in the US while retaining the DVD and Blu-ray rental service. In September 2010, the company began offering its streaming service to Canada, which later expanded to other international markets such as Latin America, the United Kingdom, Ireland, Australia, etc. Netflix is now available almost every corner of the world, except in mainland China (due to local restrictions), Syria, North Korea, and Crimea (due to US sanctions).
Netflix’s IPO (initial public offering) completed on May 29, 2002, selling 5.5 million shares of common stock at the price of $15.00 per share.
On January 22, 2018, Netflix’s market capitalization ballooned to $100 billion, becoming the largest digital media and entertainment company in the world.
Netflix is ranked #38 on the list of the World’s Most Valuable Brands by Forbes, with a brand value of $15.5 billion in 2019.
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