Blockbuster performance as Brits opt for ad-free Netflix

BRITONS opting to pay extra for ad-free viewing on Netflix has contributed to record profits for the streaming giant, as its UK revenue approaches the £2 billion mark.

- JON ROBINSON

The UK division of the American giant reported a pretax profit of £63 million for 2024, an increase from the previous record of £60.6m in 2023.

Recently filed accounts with Companies House reveal that its revenue rose over the year from £1.66bn to £1.84bn.

Netflix attributed the rise in revenue to an 11% increase in the average number of paid memberships throughout the year.

The crackdown on password sharing in the UK by the streaming service has also boosted the number of Netflix subscribers.