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The pressure is expected to mount on Google, Amazon, Facebook and other global companies that do not disclose their domestic revenues.
As Netflix continues to grow and invest in Australia, we want our corporate structure to reflect our business activities here. As a result, Australian members will be billed by Netflix Australia from New Years onwards and subscription revenue generated by Australia will be recognized in Australia. “
According to Australian Securities and Investments Commission documents, Netflix reported after-tax profits of $ 878,234 on income of $ 20.54 million in 2020. But it only paid around $ 550,000. taxes in Australia, despite estimates that its domestic subscriptions have generated more than $ 1 billion in revenue.
Netflix will not disclose how many subscribers it has in this country, but Australian tax authorities will know the figures based on the GST paid by Netflix International BV.
In September 2021, Telsyte’s Australian Entertainment Subscription Study 2021 estimated that Netflix had 6 million Australian subscribers.
Netflix offers customers three levels of membership, priced at $ 10.99, $ 15.99, or $ 19.99 per month starting in September 2020.
Using the subscriber estimates as a guideline, Netflix Australia could have made around $ 790 million and potentially over $ 1.4 billion, depending on the number of subscribers in each membership category. Netflix Australia will have to pay a fee for the service to play in the Netherlands, as it received a fee when Australian subscriber income was channeled through that country.
Netflix plans to change its corporate structure in some of its international markets, with the UK and Spain moving to a national entity structure late last year and then moving to Mexico earlier this year.
The streaming giant has also offered a more transparent overview of how its content looks, launching Top10 Netflix, which breaks down the top 10 movies and TV shows based on viewing time. Previously, it calculated audiences by measuring the number of accounts that watched a title and counting the number of views if a subscriber had streamed a show or movie for at least two minutes.
In FY2020, major streaming entertainment services, including Netflix, invested nearly $ 270 million in Australian content, according to Australian SVOD’s first Australian content investment report in August. .
The number included Australian content and products related to Australia, including shows filmed here but not filmed in the country, like that of Netflix. Click on Defeat. It was a $ 50 million production, shot in Melbourne, with a screening in the United States.
Upcoming Netflix Local Originals Include The Reboot great sorrowYouth drama series Gymnastics Academy: a second chance!, The True Story of Jessica Watson real goalThe Fish Out of Water, Drama Series disrespectful, in drama series survive the summer.
New, owner Australian Financial overview, owns the subscription video-on-demand service Stan, a local competitor to Netflix.
