NETFLIX SIGNALS UPSTREAM STRENGTH FOR 2025

Netflix has published its second quarter earnings for 2025, revealing not only strong financial performance but also what co-CEO Ted Sarandos calls “perhaps the most anticipated slate of new movies that we’ve ever had.”

Revenue for the quarter reached $11.08 billion, up 15.9% from the same period last year ($9.56 billion). Operating income saw a 45% year-on-year increase, rising to $3.78 billion, while earnings per share hit $7.19, compared to $4.88 in Q2 2024. The company’s most significant regional growth came from Asia-Pacific, with a 23% jump to $1.26 billion, and EMEA, which climbed 15% to $3.40 billion.

In a shareholder letter accompanying the results, Netflix highlighted the continued dominance of international and genre-led content. Notable successes include:

• Squid Game Season 3 – 122 million views

• Tyler Perry’s Straw – 109 million views

• German thriller Exterritorial – 89 million views

• UK’s Dept Q – 28 million views

• Denmark’s The Secrets We Keep – 35 million views

• Feature Nonnas – 60 million views

Looking ahead, the streamer is doubling down on feature content with a line-up that includes:

• Happy Gilmore 2

• Wake Up Dead Man

• Noah Baumbach’s Jay Kelly

• Guillermo del Toro’s Frankenstein

• Kathryn Bigelow’s A House of Dynamite

Speaking during Netflix’s earnings interview, Sarandos offered bullish commentary on the potential of generative AI in production workflows. Rather than seeing AI as a cost-cutting measure, Sarandos framed it as an enabler of quality:

“It used to be that only big-budget projects would have access to advanced visual effects like de-aging. That’s just no longer the case. Generative AI represents an incredible opportunity to help creators make films and series better, not just cheaper.”

Alongside its earnings report, Netflix also published its viewing statistics for H1 2025, offering a snapshot of global audience preferences:

• Top Series:

  • Adolescence (UK) – 145 million views

  • Squid Game S2 – 117.3 million views

  • Squid Game Final Season – 72 million views (in just four days)

• Top Features:

  • Back In Action – 165 million views

  • Straw – 103 million

  • The Life List – 96 million

  • Exterritorial – 88 million

• Strong Performers in Non-English Language Film:

  • Counterattack (Mexico) – 71 million

  • Ad Vitam (France) – 70 million

  • iHostage (Netherlands) – 57 million

Fin Studio Insight:

Netflix’s continued shift towards international content and high-profile features reflects a broader evolution in global streaming trends—where local stories are now driving global numbers. With AI-powered efficiencies on the horizon, the platform seems to be positioning itself as both a creative and technological leader in what remains a highly competitive and fragmented media landscape.

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