Netflix made £1.4 billion in the UK last year.
The streaming giant - which boasts original titles like ‘Stranger Things’ and ‘The Crown’ - revealed how much they took from customers in Blighty for the first time as they shared paying nearly £7 million in tax.
The 1,630 per cent rise in revenue comes after Netflix - only £79 million in 2020 - opted to stop directing British takings through European territories with lower tax rates, a practice used by other Silicon Valley-based businesses. Their profit rose to £31.7 million, thus prompting them to pay nearly £7 million, almost double their 2020 tax bill of £4 million.
In late 2020, Netflix - who spend a large chunk of their £1 billion production budget making content in the UK - vowed to start declaring their income from their British customers yearly starting in 2021.
The latest accounts from the entertainment company also highlight the increase of their UK base - their largest outside of the US - with staffing increasing by 44 per cent to 396 employees in 2021.
A spokesperson for the company said: “The UK has one of the world’s leading film and TV industries, that’s why we invest more in production here than anywhere outside North America. Last year we spent over $1bn, creating thousands of jobs and making world-class series and films across every corner of the country.
“We’re committed to investing in the UK’s creative community, bridging the skills gap and creating high-quality jobs on some of our biggest global hits like ‘Bridgerton’, ‘The Witcher’ and ‘Three-Body Problem’.”
