Netflix reveals the staggering amount they earned in Australia last year

Netflix has revealed that it made a whopping $1.06billion in Australia in 2022, from an estimated five million subscribers.

According to documents issued with the Australian Securities and Investments Commission, Netflix paid out $996million in costs and fees, leaving it with a profit of $22.7million.

It now faces a tax bill of $6.9 million, leaving a $15.8 million profit reports The Australian Financial Review.

Among Netflix’s biggest hits in the last year have been Stranger Things, Ozark, and Australia’s Heartbreak High. 

From January 2022 the platform began to bill its Australian subscribers locally.

According to documents issued with the Australian Securities and Investments Commission, Netflix paid out $996million in costs and fees, leaving it with a profit of $22.7million Pictured: Australia’s Heartbreak High, which was a global hit for Netflix

Netflix now faces a tax bill of $6.9 million, leaving a $15.8 million profit reports The Australian Financial Review . Pictured, Netflix drama Ozark

Before this, Australian subscribers were billed off-shore in the Netherlands. 

And only last month the media giant announced it would crack down on subscription sharing in Australia with new technology to stop sharing login details.

The move will be a major blow to the thousands of families that share their passwords.

The popular streaming service made the announcement for more than 100 countries including Australia at the end of May.

The major change will only apply to subscribers who are sharing their passwords with other households.

A subscriber who is using the account for themselves, on multiple devices, will not be affected.

If someone is using the streaming service from another location, and they do not own the account, they will be kicked off it.

Meanwhile, the streaming giant could be forced to funnel up to $200million back into producing more shows Down Under.

From January 2022 the troubled platform began to bill its Australian subscribers locally

Last month the media giant announced it would crack down on subscription sharing in Australia with new technology to stop sharing login details Pictured: Byron Baes

A federal government enquiry is currently underway, led by the The Australian Communications and Media Authority (ACMA), to explore imposing quotas on streaming services to boost local production.

ACMA estimates that the streamers currently operating Down Under spent $335.1million over the last financial year. 

Netflix, which does not release its subscriber numbers, had a global hit with the Australian drama Heartbreak High.

The re-boot of the local 90s high school drama scored 33million viewer hours within weeks, after it dropped on the streamer last September.