Canadians paid Netflix nearly $800M so far this year

Netflix raked in $780 million from Canadians so far this year. (Mike Blake/Reuters)

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Netflix pulled back the curtain on new financial details Monday that reveal how many Canadians subscribe to the service and how much they pay the streaming giant.

The Los Gatos, Calif.-based company raked in $780 million Cdn of revenue from Canada during the first nine months of the 2019 financial year, according documents filed with the U.S. Securities and Exchange Commission.

That compares to Canadian revenues of $835 million in the full 12-month period of 2018, and $668 million during 2017.

Those figures could add heat to the debate over Netflix not paying domestic revenue taxes. Some critics have argued Netflix is drawing viewers away from homegrown TV programming while injecting very little cultural content into the media landscape.

Under the current laws, foreign digital services, which include the streaming platform, also do not collect federal goods and service tax (GST) or the combined federal-provincial sales tax (HST). The exceptions are Quebec and Saskatchewan, both of which enacted a provincial sales tax on Netflix earlier this year.

The documents filed by the streaming company also show 6.5 million paid subscribers were using its services in Canada as of Sept. 30 — an increase of 200,000 paid accounts from the end of 2018.

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Published on December 17, 2019 at 7:41 pm by mikedup

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