Overview
- Netflix reports more than 300 million paid memberships across over 190 countries.
- About 94 million users are on the ad-supported plan, roughly 30% of the base, with management saying ad revenue doubled in 2024 and is on track to double again in 2025.
- Operating margin rose to 34.1% in Q2 2025 from 27.2% a year earlier, and free cash flow increased to $2.3 billion.
- The company launched its Netflix Ads Suite and added Yahoo DSP to expand programmatic buying, targeting, and measurement.
- Revenue growth is strongest outside North America, with Asia-Pacific and Latin America each up 23% year over year on an FX-neutral basis versus 15% in the U.S.