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Netflix made \u00a31.4 billion (about R 28.19 billion) in the UK last year. <\/p>\n
The streaming giant \u2013 which boasts original titles like \u2018Stranger Things\u2019 and \u2018The Crown\u2019 \u2013 revealed how much it took from customers in Blighty for the first time as it shared that it paid nearly \u00a37 million in tax. <\/p>\n
The 1 630% rise in revenue comes after Netflix \u2013 which made only \u00a379m in 2020 \u2013 opted to stop directing British takings through European territories with lower tax rates, a practice used by other Silicon Valley-based businesses. <\/p>\n
Its profit rose to \u00a331.7m, thus prompting it to pay nearly \u00a37m, almost double its 2020 tax bill of \u00a34m. <\/p>\n
In late 2020, Netflix \u2013 which spent a large chunk of its \u00a31bn production budget making content in the UK \u2013 vowed to start declaring its income from their British customers yearly starting this year.<\/p>\n
The latest accounts from the entertainment company also highlight the increase in its UK base \u2013 its largest outside the US \u2013 with staffing increasing by 44% to 396 employees this year. <\/p>\n
A spokesperson for the company said: \u201cThe UK has one of the world\u2019s leading film and TV industries, that\u2019s 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.<\/p>\n
\u201cWe\u2019re committed to investing in the UK\u2019s creative community, bridging the skills gap and creating high-quality jobs on some of our biggest global hits like \u2018Bridgerton\u2019, \u2018The Witcher\u2019 and \u2018Three-Body Problem\u2019.\u201d<\/p>\n
BANG ShowBiz Tech<\/strong><\/p>\nSource <\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Netflix made \u00a31.4 billion (about R 28.19 billion) in the UK last year. The streaming giant \u2013 which boasts original titles like \u2018Stranger Things\u2019 and \u2018The Crown\u2019 \u2013 revealed how much it took from customers in Blighty for the first time as it shared that it paid nearly \u00a37 million in tax. The 1 630% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1227243","post","type-post","status-publish","format-standard","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1227243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1227243"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1227243\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1227243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1227243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1227243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}