Netflix's ad tier sends UK revenue towards £2billion

AN INCREASE in British viewers choosing Netflix’s advertising tier has helped the streaming giant rake in record profits as UK revenue nears the £2billion mark.

- By Jon Robinson

The British arm of the US giant reported a pretax profit of £63million for 2024, up from the £60.6m it achieved in 2023 — the previous record.

Latest accounts also show revenue rose in the 12 months from £1.66bn to £1.84bn.

Netflix said the increase was due to an 11% rise in the average number of paid memberships. More than 55% of new sign-ups have come through its advertising tier. Quarter over quarter, this type of membership grew by almost 30%.