What did people do before Netflix? Were they sitting in circles around the fire, trying to guess tomorrow's weather based on the position of the Moon? Well, not exactly. Believe it or not, Netflix's streaming service, as we know it today, is not that old. It had only existed for over a decade or so, and people before it used to live pretty much the same as we do.
However, they did have to wait for their favorite show to get broadcasted on a TV channel around the same time each day – shocking! Oh yes, they also had an alternative of renting a DVD. But that would mean they'd have to actually get up, get dressed, go outside, and face the real world… hmm, no, no, no.
Not only did Netflix make our streaming experience much more enjoyable and convenient (all the while transforming some of the most notorious extroverts among us into introverts), but it also achieved some mind-blowing things. Netflix came up with a bunch of innovations, marked major successes, and its overall impact is almost inconceivable.
All this inspired us to gather and organize the following fascinating facts and statistics to know in 2023. So let's now dig into the matter.
Netflix statistics and facts that you need to know in 2023
Here are some of the most important and interesting findings we gathered about Netflix in 2023. Some of them may shock you, some will definitely amuse you, and some you might find useful. In any case, we hope you'll enjoy them!
1. Netflix is the most popular streaming service in the world
Despite so many similar platforms emerging since Netflix developed its Stream Now functionality, the streaming pioneer remains the #1 choice, with the biggest number of subscribers across the world. Netflix passed its latest major milestone in 2020 when it gathered over 200 million subscribers.
Currently, its user network is slightly declining, but it still counts close to 225 million members. The second is Amazon Prime with approximately 205 subscribers, and the third is Spotify with nearly 180 million subscribers.
2. Netflix still spends billions on research and development
The streaming giant wouldn't be where it is now if it didn't understand that there's no progress without large efforts and large investments. Netflix still spends tremendous amounts of money each year on conducting research to help its further development. Last year alone it spent over $2.2 billion in the "research and development" category. This is an 18% percent increase compared to a year before (2020), and over a 120% increase since 2017, when Netflix spent $953.7 million on these investments.
3. Netflix is worth over $100 billion
According to the latest data from September 2023, Netflix has a market cap of $103,74 billion. This makes it the world's 115th most profitable company. Netflix's value has been growing pretty steadily since 2013 and peaked at the end of October 2021, when it passed $300 billion.
Unfortunately, this positive trend stopped shortly afterward. The lowest value Netflix had in the last four years was approximately $80 billion in May 2023. Now things are looking better again for Netflix.
4. Most Netflix subscribers are home-based
Out of over 220 million Netflix users, the greatest majority are from the US and Canada – nearly 74 million people. The US alone makes for almost one-fourth of all the subscribers worldwide, with over 63 million users. That's almost the number of all Europe, Africa, and the Middle East users combined.
5. The United States and Canada bring the most money to Netflix
Naturally then, these are the countries in which Netflix earns the most of its revenue – nearly 43% of all its profit comes from the US and Canada. Its revenue in these countries also keeps increasing year by year. Last year (2021) Netflix earned almost $13 billion in the two biggest North American countries. For comparison's sake, in 2018, the total amount earned there was $8.28 billion.
6. Generation Z is the most profitable Netflix fans age group
According to the same Finances Online research from above, over 70% of Generation Z folks who watch Netflix have paid accounts. Millennials are also ardent Netflix streamers, but almost 10% of them prefer sharing passwords. Netflix and similar platforms are not so popular among Boomers, however, with most of them still preferring to watch live TV and 36% of them admitting they almost never use streaming services.
7. Over 53% of Netflix subscribers share their account password with other people
Yes, that's right, over half of Netflix users aren't paying for streaming. The subscribers which are sharing their Netflix passwords mostly give them to their distant relatives and friends. After years of speculations about how much Netflix loses each year because of its "generous" subscribers, and innumerate memes on the subject across the internet, the company finally made some changes. In March 2023, Netflix came up with a legit way of sharing your account with people outside of your household for a couple of extra bucks.
8. There's almost no gender gap between Netflix users
Although, in general, men prefer to stream content online, while women are more likely to rely on cable TV for entertainment, Netflix somehow managed to reduce this gender gap. The Finances Online reveals that 49% of Netflix viewers are male and 51% of viewers are female. The only explanation for this almost nonexistent gender gap is that the company did a great job making its content equally appealing to everyone.
9. Netflix owns the second biggest US library in the world
According to Business of Apps, Netflix currently has approximately 3,600 movie titles in its US library and 1,800 TV shows. In the meantime, Amazon Prime offers a whopping 26,300 movies and 2,700 TV Shows. All the other streaming platforms have fewer titles in their US libraries, making these two the leaders of the industry. HBO Max is third, with 2,000 movies and 580 TV shows only.
10. Slovakia has the highest number of Netflix titles overall
Statista reveals Slovakia is the country with the biggest Netflix catalog in 2023 – combining 7,436 different titles. The following two are Bulgaria and Lithuania with 7,162 and 6,938 titles, respectively. If this was a competition, European countries would definitely lead, with almost all 10 top spots taken by different European countries. The only two exceptions are Singapore and the Philippines.
11. Netflix Japan offers the best titles
When it comes to quality over quantity, Netflix Japan offers the best-reviewed and most-awarded entertainment titles in the world. Movies and TV series in it have over 19,000 award wins and over 40,000 award nominations combined, plus the library has an IMDB of 27,284 in total. Therefore, Japan gets the maximum of 100 Netflix library points for the highest score achieved among all Netflix countries.
The second is Czech Republic with a score of 97.61, the third is the South Korea catalog with a score of 94.02, and the UK comes in fourth with 93.78. Coincidence or not, over half of the top 30 list comprises European countries. Also, the United States catalog is not as high on this list as one would expect, taking only 29th place.
12. Denmark has the most expensive Netflix library, while Netflix Turkey offers the best value for money
Not only do Netflix catalogs differ in sizes and quality of content, but they can also differ very much in their prices per title and overall subscription prices. And so, Turkey has the most cost-effective Netflix library. The monthly subscription cost in that country is only $2.45 per month, or $0.00055 per title – all 4,466 titles included. Denmark doesn’t boast the same value for money Netflix library. It currently includes 3,864 titles, each costing $0.00337, so Denmark Netflix subscribers pay $13.04 each month.
13. Almost one-third of OTT subscription revenues in the US go to Netflix
Despite most OTT (over-the-top) users having more than one streaming platform account, Netflix gets almost one-third of all revenues. In 2021, 30.8% of all OTT subscription revenues in the US went to Netflix. This year, the percentage slightly decreased to 28,4%, still quite a score. Disney came in second with 27.1% (an increase of 1.2% since last year) of US OTT subscription revenues, and YouTube is third with 13.2%.
14. People spend over 164 million hours each day watching Netflix
According to the latest Streaming Observer research (from 2019), each Netflix user spends an average of 1 hour and 11 minutes per day streaming content on this platform. This means that all users across the globe spend approximately 164.8 million hours on Netflix shows each day in total. Converted in years – that's over 18,812 years invested in video streaming each day.
15. Netflix users spent over 280 GB of data a month on streaming during the pandemic
Another, more recent, report from 2020 showed that Netflix viewers spent an average of 3.2 hours a day streaming via that platform. Combined, that's over 6 billion hours of watching Netflix per month. And, if we calculate that, for each hour of streaming, they've approximately used 3GB of data – that's 288 GB a month of data spent on Netflix alone (that year).
Of course, the year 2020 may not be the most universal example, as this was the year in which people on average spent more time in front of their screens, due to the pandemic. Also, the above calculations assume the users were watching Netflix in HD. For streaming in 4K, the data usage would be even higher.
16. We spend more time on Netflix than with our families
This may sound like an exaggeration, but, according to recent studies, family members in the US don't even spend 40 minutes of quality, undistracted time together – they usually spend from 34 to 37 minutes a day in together activities, to be precise. Considering the above-mentioned statistics, that's about half as much quality time with our family than with Netflix. Not to mention the disheartening statistics during the peaks of Covid-19 (2020-2021), when people spent even more time on Netflix, about five to six times more than what's an average family bonding time.
Also, according to the Bureau of Labor Statistics, Americans spend more time watching Netflix than they do exercising (17.4 minutes), reading (16.8 minutes), and hanging out with friends (39 minutes). Even when you put those numbers together, it turns out an average person in the US spends more time in front of their screen than on those activities combined.
17. Squid Game was the most popular series in 2021 and Red Notice was the most popular movie
According to Netflix Life magazine, Squid Game was by far the most watched Netflix TV series in 2021, with over 1.6 billion views worldwide. Before this series got released in September 2021, Bridgerton was the leading Netflix show that year, with approximately 625.4 million views. The Witcher, season 2, came in third with 405 million views, an impressive position considering it got released at the end of the year, on December 17.
Despite not-so-great critic reviews and poor IMDB ratings, Red Notice was the most popular Netflix movie in 2021. Recently, Netflix has released the Weekly Top 10, an online tool for following the most-watched TV and films, week by week.
18. Netflix offers over 1,500 original titles
Starting with its first true original show, an award-winning House of Cards, the company has produced over 1,500 original titles. However, don't get confused with the "Netflix Original" tagline, the company tends to put it on both – the titles that were in fact developed in-house and also the TV shows and movies it gained the exclusive rights to broadcast.
19. As of August 2023, Netflix is available in 190 countries worldwide
According to Netflix Tudum's latest statistics, Netflix is currently available in 190 countries worldwide, and in over 37 languages. For comparison's sake, its two biggest competitors Amazon Prime and Disney+ are present in 200 and 60 countries, respectively. With Netflix's continued expansion, we're sure this is not the final number, though.
20. Netflix turned 25 in 2023
On August 29, 2023, Netflix celebrated its silver anniversary. It's been an exciting 25 years of innovations, development, and bringing joy to the audience worldwide. Netflix came a long way from a DVD rental store that delivered movies by mail – now hundreds of millions of people worldwide have its app for live streaming.
21. Over 70% of viewers watch Netflix on TVs
While most people sign up to Netflix via their laptops (40%) and mobile phones (30%), research by Finances Online shows that a great majority of them eventually migrate to watching Netflix content on TV (70%). Only 5% of users subscribe via tablet, and the same percentage watches Netflix on that device.
22. The average (US) Netflix subscriber earns less than $50,000 a year
Netflix works on diversifying its content in order to gather audiences from all demographic groups, which is why their incomes can significantly vary. However, if we're looking for the average Netflix subscriber in the US, it's a millennial woman that lives in a suburban area, has some or no college degree, and earns less than $50,000 per year. What's more, only 17% of Netflix users earn over $100,000 a year.
23. Netflix could achieve a 62% penetration rate in North America by 2025
Netflix's penetration rate in North America in 2019 was already at 55%, so this prediction by Statista seems quite realistic. Forecasts for other regions are more drastic, however, with a 41% penetration rate expected in EMEA (an increase from 19% in 2019), 53% penetration rate in Latin America (it was 39% in 2019), and a rise from 11% to 25% penetration rate in the Asia-Pacific.
24. Netflix produced over 130 original titles in Q3 2021
According to another report by Statista, Netflix had produced approximately 2,769 hours of original content by the year 2019. That number kept growing and multiplying, and so, the company produced twice as much content between 2018 and 2020 as it had produced in five years before that (from 2012 to 2017). In the third quarter of 2021 alone, Netflix produced over 130 original titles.
25. Thanks to Netflix, streaming wars are now a thing
In 2007, Netflix started offering quite a unique product – an on-demand streaming service. Other entertainment companies followed, eventually resulting in, what many analysts nowadays call, streaming wars.
Netflix is still the most dominant streaming platform, mostly due to the ongoing popularity of its originals, such as House of Cards, Peaky Blinders, and Orange Is the New Black. Over 30 Emmy nominations, and planetary popular Emmy winners, including The Queen’s Gambit, further reinforced its reputation as a hotbed for the most desirable content.
However, Prime Video is following and getting really close in popularity, partially thanks to its over five times bigger catalogs (on average). Some experts predict that Amazon Prime could surpass Netflix in the number of subscribers too by Q4, 2024.
26. Region-hoppers hunt as well
Netflix catalogs are available worldwide, but they can very much differ from country to country, due to licensing and copyright contracts it makes with producers. Many users don't like this, and they use a VPN to bypass such geo-restrictions. To end such practices, in 2016, Netflix started actively pursuing region-hoppers, and then blocking VPN servers and other proxy services they got caught using.
Recently, though, Netflix applies a somewhat different strategy to protect its geo-restricted materials. When it spots a user connected to a VPN, it shows them only the titles that would normally appear in their home country catalogs. However, since none of these methods are infallible and VPNs are also getting stronger, many Netflix users still juggle between different catalogs unnoticed.
27. Most Netflix users wouldn't object to higher Netflix charges
Addiction or not, a 2020 Wall Street research showed that over 55% of Netflix users would accept to pay more to keep their accounts. This represents an increase of 8% compared to December 2019, when 47% of subscribers said they wouldn't mind paying more for their monthly subscriptions. When it comes to the most passionate streamers, those who spend more than seven hours per week on Netflix, this percentage is even higher – almost 60% would pay more for Netflix.
28. Netflix is no longer the leader in content-creating expenditures
Among all the high-profile streaming platforms, Netflix used to spend the most on creating and buying rights for content (especially on Netflix Originals), but not any longer. Currently, Netflix ranks fourth in terms of planned 2023 content expenditures, which are expected to reach $19 billion by the end of the year. Interestingly, if we subtract sports from the expenses, Netflix ranks second.
Walt Disney Co. took over first place with at least $33 billion planned to spend on content. Warner Bros. Discovery is second with $22.4 billion to be spent in 2023, sports included.
29. Netflix counts over 250 awards and over 850 award nominations
Netflix has an impressive number of titles across its libraries, but the platform is not just all about quantity. The streaming giant is dedicated to producing quality engaging content, and it has numerous awards and nominations to prove it. So far, Netflix has received over 250 prominent awards, including Academy Rewards, Emmy Rewards, and Grammy Awards, and it was nominated for at least 850 more. The Crown itself has won 129 of those awards.
30. We all have at least six Netflix shows in common
Regardless of your cinematic taste and your geographical coordinates, according to Netflix, you've seen at least six shows that another, random, Netflix user has seen as well. Planetary popular Stranger Things, Black Mirror, and La Casa de Papel are among the most likely picks that are in common to viewers across the globe, but it could be anything else.
Feel free to test this theory next time you're lacking a conversation starter with a stranger on a plane or train.
31. Asia Pacific has the smallest number of Netflix users but the biggest expansion potential
Despite sanctions and other political disagreements, due to which Netflix is unavailable in some areas of the Asia Pacific (China, North Korea, Syria, and Crimea), the company is not giving up on the idea to spread in this region. This comes as no surprise, especially since the China online streaming market was estimated to be $17.5 billion in 2020. Conquering it would mark a new era for Netflix.
In the meantime, the current focus is on the rest of the Asia Pacific, which, as we speak, is the smallest Netflix region (by the number of paid subscribers), but it has the biggest growth potential. The region saw 9,2 million new subscribers in 2020, a 65% increase from the year before. Naturally, the revenue increase (of 62%) in the region followed, after which the Asia Pacific contributed 10% of total Netflix revenue in 2020.
32. Netflix loses $1.5 billion from password sharing
While Netflix is struggling to find a balance between making its services exclusive and not discouraging potential subscribers, the company is losing money. In 2020, it reported a loss of around $1.5 billion in potential income, caused by password sharing. The potential losses have probably further increased since, especially considering Parks and Associates' report, which estimates that the losses in the industry will reach $12.5 billion by 2024.
33. Netflix spends $30 million per episode on Stranger Things
Netflix is no longer the biggest spender among the streaming companies (content-wise), but that doesn't mean its investments are less extravagant. As of season four, one of the biggest sci-fi hits, Stranger Things, cost Netflix a whopping $30 million per episode – a gigantic leap compared to season one when its estimated budget was $6 million per episode. The second most expensive series is The Crown, currently worth a humble $13 million per episode.
34. Stand-up specials cost up to $20 million per performance
Since they attract another completely different but very large audience, Netflix also invests a lot in programs of renowned stand-up comedians. For example, Chris Rock charged Netflix $40 million for two of his comedy specials, and Dave Chappelle got $60 million for a three-part comedy special.
35. Netflix has over 11,000 employees
According to the latest employee statistics by Macrotrends, 11,300 people were working for Netflix in 2021. This is a 20.21% increase compared to 2020, and a 31.4% increase from 2019. In 2005, Netflix had only 1,000 employees, which means its workforce has increased by over 1,000% in the last 16 years.
36. Netflix's debt is close to $17 billion
This may sound like a lot, but it's just one of the side effects of the company's growth. Like many other big players on the market, Netflix is financing its growth with debt, and many experts claim it's doing it just fine.
Besides, contrary to the predictions for 2023, Netflix debt has actually decreased from last year. Netflix carried $18.8 billion in debt to 2021, and that debt got reduced to $16.9 billion – a significant improvement.
37. Its revenue for 2021 was approximately $29.7 billion
While Netflix's debt is decreasing, its revenue keeps growing – which is great news! Despite the recent drop in the number of subscribers, the entertainment juggernaut continues to earn big money year after year. Netflix reported total net revenue of approximately $29.7 billion in 2021.
Just four years earlier, in 2017, its revenue was significantly smaller, $11.69 billion – 87% smaller, to be precise. Even more impressively, if we compare 2017 Netflix’s revenue with the one it earned 10 years earlier, we'd come to a 2,400% increase since 2007. This difference is a little less shocking if we consider that that's the year Netflix introduced its on-demand streaming service.
38. Netflix shares have slumped by 35% in Q2 2023
Influenced by the sudden drop in subscribers and warnings that millions more are likely to quit the streaming service, some of the biggest Netflix investors withdrew their funds, which inevitably led to its share value plunge in April 2023. After almost uninterrupted share growth since the beginning of the pandemic, they are now at their lowest in years.
While Netflix promises several brand new business growth plans and many analysts still believe Netflix won't easily lose its title of the streaming leader, others are not so confident. Considering the volatility of the market, growing competition, and Netflix's not-so-affordable pricing amid these economically tough times, it's not easy to be very optimistic. But only time will tell!
39. The estimated worth of Netflix's recommendation engine is $1 billion a year, or more
According to different online sources, including Business Insider Australia, Netflix's personalized recommendation engine could be worth roughly $1 billion per year. How is this possible? You may wonder.
The combined effect of personalization and recommendations save us more than $1B per year.
In an academic paper published by Gomez Uribe and Neil Hunt, the authors went on to explain that a search engine developed this way keeps the subscribers clear of canceling. According to consumer research "a typical Netflix member loses interest after perhaps 60 to 90 seconds of choosing, having reviewed 10 to 20 titles (perhaps three in detail) on one or two screens.” So if they don't find something of interest within that time frame, there's always the risk they will lose interest in the service altogether, and move to another streaming platform.
40. 80% of Netflix viewers choose their next movie/series based on the platform's recommendations
Considering the short attention span of an average user, Netflix estimates that the platform's recommendation system influences as much as 80% of their choices. Only 20% of viewers make their choices based on their own search efforts. It’s, therefore, essential that Netflix continues working on this tool.
41. Speeds that most ISPs provide are insufficient for HD-quality streaming on Netflix
Netflix developed a tool that measures Netflix's speed with different internet service providers (ISP) around the world. The tool called ISP Speed Index measures and publishes primetime streaming speeds in most countries where the streaming service is available. While the speeds shown aren't, of course, absolute, you can get a broad idea of your ISP’s capabilities.
For example, the last data captured in August 2023 in the US shows the fastest ISP speed is 3.6 Mbps, achieved by Comcast, Cox, Mediacom, Optimum Fiber, Verizon, and a few other large ISP providers. In the UK, Virgin was the only ISP provider that achieved the same speed in August 2023. Its competitors, BT, EE, Plusnet, Sky Fiber, TalkTalk Fiber, and Vodafone provided speeds of 3.4 Mbps, while the remaining ISPs were even slower with Netflix.
Considering that Netflix recommends a minimum speed of 5 Mbps for HD streaming, the above speeds are insufficient for a quality experience. This leaves a large portion of users streaming in SD quality or lower. Not to mention that streaming in Ultra HD requires 25 Mbps download speed (according to Netflix recommendations), which most subscribers can only dream about.
42. And then there are ISPs throttling Netflix streaming
Once Netflix became popular, it created a huge spike in downstream traffic, and many ISPs decided to bottleneck Netflix traffic to their benefit. Eventually, customers in the US realized what was going on and started filing loads of complaints. In 2014, Comcast had no choice but to create a "mutually beneficial" agreement with Netflix that would stop throttling issues. Rumors have it that Netflix had to pay Comcast to solve the situation.
Today, many ISPs around the world still throttle the speed of their service, especially with streaming platforms that usually require faster speeds. Using a VPN can help you bypass your ISP limitations and enjoy faster streaming.
43. Netflix generates over 10% percent of all downstream traffic around the world
According to Sandvine’s Global Internet Phenomena Report, released at the beginning of 2023, Netflix single-handedly accounted for 10.61% of all downstream traffic volume across the globe in the first half of the year. Only YouTube had a higher global internet traffic share, accounting for 16.37% of all downstream and 4.45% of all upstream, making it a leading online traffic source overall.
44. Netflix accounts for over 19% of all online traffic in Americas and over 16% of online traffic in EMEA countries
The above report also shows significant regional differences in online traffic with apps in demand. In the Americas, Netflix is the most popular app with a total of 19.85% in traffic share, and YouTube is second with 15.02%. In the EMEA countries, Netflix streaming accounts for 16.1% of all internet traffic, and YouTube takes up 12.75%.
In the APAC region, the situation is completely different. The most online traffic, 18.8%, goes through Facebook, YouTube is third with 13.10% in traffic share, and Netflix is all the way down in tenth place, with only 1.41% of total downstream/upstream traffic.
45. Netflix was the first streaming service that became international
Only three years after Netflix began streaming movies and TV shows, the service spread internationally – first to Canada in 2010, followed by Latin America and the Caribbean in 2011. Netflix became available in Europe a year after, in 2012, initially settling in the UK, Ireland, and Nordic countries.
In 2015, Netflix finally launched its service in Australia, New Zealand, and Japan, and at the beginning of 2016, Netflix was already present in 130 countries worldwide. As of 2023, Netflix covers almost the entire planet, minus only a few countries.
46. Netflix reached 17.5 million subscribers in the UK in 2023
This Statista report shows us that Netflix reached 17.5 million subscribers in the UK in the second quarter of 2023. The visual representation (chart) in the report shows that Netflix had a quite steady rise in subscribers in the United Kingdom since 2014.
47. Netflix’s ARPU is the highest in the US and Canada and the lowest in Latin America
Statista regularly brings us reports of the average monthly revenue per streaming customer (ARPU) of Netflix users worldwide. In the second quarter of 2023, Canada and the US were the most profitable Netflix regions, with an average monthly ARPU of $15.95. Countries of the EMEA region were the second on the list, with ARPU worth $11.17. The least profitable were the Latin American customers, who were paying only $8.87 per monthly Netflix subscription (on average).
48. Netflix surpassed HBO and CBS in Emmy nominations and awards
After 17 years of an uninterrupted Emmy nomination streak, HBO was beaten by Netflix in 2018. That year, Netflix received 112 Emmy nominations, while HBO received 108. Even more impressively, in 2020, Netflix had received 225 Emmy nominations and won 43 awards, leaving its competitors behind once again.
In 2021, Netflix broke the record as the winner of the most Emmys in a single year, with an astonishing 44 awards. CBS set the previous record in 1974, with 27 awards won that year.
49. Netflix is the leader of UI/UX experience and cross-platform compatibility
As early as 2008, Netflix started partnering with Xbox 360, Blu-ray disc players, and different TV set-top boxes to create more options for streaming its content. By 2009, Netflix was already available on the PS3 and smart TVs.
In 2010, Netflix launched its apps for Apple’s iPad, iPhone, iPod Touch, and many more. Today, Netflix is known as a streaming platform with the best user interface and excellent cross-platform compatibility.
50. More than half of Singaporeans, aged 16+, have Netflix
Of all Singaporeans above 16, approximately 69% have a subscription service. Out of those, 51% have Netflix subscriptions, making this service the most dominant streaming platform in the country. What's more, in a survey created by Rakuten Insight in May 2021, 87% of Singaporeans stated Netflix was their favorite streaming platform.
51. 7 out of the top 10 most popular series are Netflix series
According to the latest Nielsen statistics, 7 out of the 10 most popular series worldwide are Netflix series. Prime Video’s The Lord of the Rings: The Rings of Power, as well as Game of Thrones and House of the Dragon by HBO, are the only non-Netflix series that made it to the top 10 most popular series list.
Netflix in the future – market predictions
Netflix was the pioneer of online streaming services as we know them today, and years later, it's still the leader of the industry. Like almost every business of that size, Netflix faced a few rough patches in the last couple of years, mainly influenced by new market realities, global economic difficulties, and growing competition. As a result, in 2023, we observed a slow dissipation of Netflix subscribers across other (more affordable) streaming platforms and a further devaluation of Netflix share prices.
However, the above statistics, along with carefully planned strategies for the upcoming period, make us confident that we'll see many more wins by Netflix going forward. Also, although the competition is getting more fierce and times are not ideal financially, the company managed to increase its revenue and reduce its debt in 2023, which is another great sign of Netflix's efforts and perseverance.
One thing is for sure, though – as long as Netflix is regarded as a synonym for on-demand streaming service, and more and more people are getting accustomed to watching content in their own time (as opposed to depending on TV channels' fixed schedules), the future seems bright for the streaming giant.