Netflix has reported revenue of $11.08 billion, up 16 percent year-over-year, in Q2-2025 supported by increased membership, price hikes, and advertising growth.
Operating income rose 45 percent to $3.8 billion, with a 34 percent margin, while net income surged to $3.1 billion and diluted EPS hit $7.19.
Subscriber engagement remained robust, with over 95 billion viewing hours in the first half of 2025 and significant hits like Squid Game S3 (122M views), Tyler Perry’s STRAW (109M), and KPop Demon Hunters (80M). All four global regions posted double-digit revenue growth, led by 24 percent in APAC and 18 percent in EMEA.
The company completed the rollout of its first-party Netflix Ads Suite and redesigned its TV homepage for better user experience.
Strategic investments included over €1 billion for Spanish content through 2028 and $1 billion in a new US production facility in New Jersey.
Netflix’s strategy focuses on local content with global appeal, new game titles tied to hit shows, and expanding live sports and events like the Canelo-Crawford boxing match and NFL Christmas games.
Netflix’s second-quarter performance was powered by a globally diverse content slate that connected with audiences across markets. Standout series included Sirens (56M views), Ginny & Georgia Season 3 (53M), Dept. Q from the UK (28M), and Secrets We Keep from Denmark (35M).
Regional titles also drew significant viewership, such as Thailand’s Mad Unicorn (7M), France’s Asterix & Obelix (16M), and Argentina’s The Eternaut (29M). In the U.S., The Four Seasons (40M), Ransom Canyon (30M), and FOREVER (20M) performed strongly and have been renewed for second seasons.
On the film front, major releases included Tyler Perry’s STRAW (109M), Exterritorial from Germany (89M), Nonnas (60M), and iHostage from the Netherlands (58M). The animated feature KPop Demon Hunters (80M) emerged as one of Netflix’s most successful animated films to date, with its fictional K-pop bands breaking global music records and topping charts including Billboard, Apple Music, and Spotify.
The quarter closed on a high note with Squid Game Season 3 (122M), already Netflix’s sixth biggest season of any series.
Korean content remained a key strength, with titles like Weak Hero: Class 2 (20M), Mercy For None (18M), and Tastefully Yours (15M) drawing strong engagement.
Netflix expressed confidence heading into the second half of the year, citing a robust upcoming slate that includes Wednesday Season 2, the Stranger Things finale, the Canelo-Crawford live boxing match, Happy Gilmore 2, A House of Dynamite by Kathryn Bigelow, and Guillermo del Toro’s Frankenstein.
Ads revenue is on track to double in 2025, and the company raised its full-year revenue forecast to $44.8–$45.2 billion, projecting a 29.5 percent operating margin. Free cash flow guidance has also been lifted to $8–$8.5 billion.
Baburajan Kizhakedath
