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Revenue Recognition | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition The following tables summarize streaming revenues, paid net membership additions, and ending paid memberships by region for the three and six months ended June 30, 2024 and June 30, 2023, respectively. Hedging gains and losses are included in “Streaming revenues” for the three and six months ended June 30, 2024. No hedge gains and losses were recognized as “Streaming revenues” in the comparative prior year periods. See Note 7 Derivative Financial Instruments and Hedging Activities for further information. United States and Canada (UCAN)
|  | As of/Three Months Ended |  | As of/Six Months Ended
|  | June 30, 2024 |  | June 30, 2023 |  | June 30, 2024 |  | June 30, 2023
|  | (in thousands)
Streaming revenues |  | $ | 4,295,560 |  |  | $ | 3,599,448 |  |  | $ | 8,519,875 |  |  | $ | 7,208,093 |
Paid net membership additions |  | 1,451 |  |  | 1,173 |  |  | 3,981 |  |  | 1,275 |
Paid memberships at end of period (1) |  | 84,109 |  |  | 75,571 |  |  | 84,109 |  |  | 75,571 |
Europe, Middle East, and Africa (EMEA)
|  | As of/Three Months Ended |  | As of/Six Months Ended
|  | June 30, 2024 |  | June 30, 2023 |  | June 30, 2024 |  | June 30, 2023
|  | (in thousands)
Streaming revenues |  | $ | 3,007,772 |  |  | $ | 2,562,170 |  |  | $ | 5,965,965 |  |  | $ | 5,079,811 |
Paid net membership additions |  | 2,235 |  |  | 2,434 |  |  | 5,151 |  |  | 3,078 |
Paid memberships at end of period (1) |  | 93,964 |  |  | 79,807 |  |  | 93,964 |  |  | 79,807 |
Latin America (LATAM)
|  | As of/Three Months Ended |  | As of/Six Months Ended
|  | June 30, 2024 |  | June 30, 2023 |  | June 30, 2024 |  | June 30, 2023
|  | (in thousands)
Streaming revenues |  | $ | 1,204,145 |  |  | $ | 1,077,435 |  |  | $ | 2,369,153 |  |  | $ | 2,147,627 |
Paid net membership additions |  | 1,530 |  |  | 1,217 |  |  | 3,253 |  |  | 767 |
Paid memberships at end of period (1) |  | 49,250 |  |  | 42,466 |  |  | 49,250 |  |  | 42,466 |
Asia-Pacific (APAC)
|  | As of/Three Months Ended |  | As of/Six Months Ended
|  | June 30, 2024 |  | June 30, 2023 |  | June 30, 2024 |  | June 30, 2023
|  | (in thousands)
Streaming revenues |  | $ | 1,051,833 |  |  | $ | 919,273 |  |  | $ | 2,074,757 |  |  | $ | 1,852,796 |
Paid net membership additions |  | 2,829 |  |  | 1,068 |  |  | 4,986 |  |  | 2,523 |
Paid memberships at end of period (1) |  | 50,324 |  |  | 40,546 |  |  | 50,324 |  |  | 40,546 |
(1) A paid membership (also referred to as a paid subscription) is defined as a membership that has the right to receive Netflix service following sign-up and a method of payment being provided, and that is not part of a free trial or certain other promotions that may be offered by the Company to new or rejoining members. Certain members have the option to add extra member sub accounts. These extra member sub accounts are not included in paid memberships. A membership is canceled and ceases to be reflected in the above metrics as of the effective cancellation date. Voluntary cancellations generally become effective at the end of the prepaid membership period. Involuntary cancellations, as a result of a failed method of payment, become effective immediately. Memberships are assigned to territories based on the geographic location used at time of sign-up as determined by the Company’s internal systems, which utilize industry standard geo-location technology.
Deferred revenue consists of membership fees billed that have not been recognized, as well as gift cards and other prepaid memberships that have not been fully redeemed. As of June 30, 2024, total deferred revenue was $1,474 million, the vast majority of which was related to membership fees billed that are expected to be recognized as revenue within the next month. The remaining deferred revenue balance, which is related to gift cards and other prepaid memberships, will be recognized as revenue over the period of service after redemption, which is expected to occur over the next 12 months. The $31 million increase in deferred revenue as compared to the balance of $1,443 million as of December 31, 2023 is a result of the increase in membership fees billed due to increased memberships and price increases.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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