UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________
FORM 8-K
__________________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 16, 2019
__________________________________
NETFLIX, INC.
(Exact name of registrant as specified in its charter)
__________________________________
															
Delaware	001-35727	77-0467272	
(State or other jurisdiction
of incorporation)	(Commission
File Number)	(I.R.S. Employer
Identification No.)	
	
100 Winchester Circle, Los Gatos, California		95032	
(Address of principal executive offices)		(Zip Code)	

(408) 540-3700
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
__________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
									
Title of each class	Trading Symbol(s)	Name of each exchange on which registered	
Common stock, par value $0.001 per share	NFLX	NASDAQ Global Select Market	

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐

Item 2.02 Results of Operations and Financial Condition.

On December 16, 2019, Netflix, Inc. (the "Company") released historical streaming revenue, membership and average revenue per paying streaming membership by region. In light of the Company's growing number of memberships and revenue from outside the United States, this regional reporting is consistent with how the Company reviews and manages its membership and revenue trends.

The historical revenue and membership information by region for the three month periods ended March 31, 2017, 2018, and 2019, June 30, 2017, 2018 and 2019, September 30, 2017, 2018 and 2019, and December 31, 2017 and 2018, and for the twelve month periods ending December 31, 2017 and 2018 and the nine month period ended September 30, 2019 are attached hereto as Exhibit 99.1 and are incorporated herein by reference.

The information in this report shall not be treated as “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly stated by specific reference in such filing.
Item 9.01 Financial Statement and Exhibits.
(d)   Exhibit

99.1*	Streaming Revenue and Membership Information by Region

* This exhibit is intended to be furnished and shall not be deemed “filed” for purposes of the Securities Exchange Act of 1934.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		NETFLIX, INC.	
Date:	December 16, 2019		
		/s/ Spencer Neumann	
		Spencer Neumann	
		Chief Financial Officer	

Exhibit 99.1
Netflix, Inc.
Streaming Revenue and Membership Information by Region
(unaudited)
(in thousands, except for average monthly revenue per paying membership and percentages)

	As Of / Three Months Ended		As of / Year Ended	
	March 31,
2017		June 30,
2017		September 30,
2017		December 31,
2017		December 31,
2017	
United States and Canada (UCAN)										
Revenues (1)	$	1,586,167 	 		$	1,624,397 	 		$	1,674,308 	 		$	1,775,987 	 		$	6,660,859 	 	
Paid net streaming membership additions	1,665 	 		1,042 	 		1,162 	 		1,643 	 		5,512 	 	
Paid streaming memberships at end of period	54,575 	 		55,617 	 		56,779 	 		58,422 	 		58,422 	 	
Average paid streaming memberships during period	53,743 	 		55,096 	 		56,198 	 		57,601 	 		55,660 	 	
Average monthly revenue per paying streaming membership	$9.84 	 		$9.83 	 		$9.93 	 		$10.28 	 		$9.97 	 	
% change as compared to prior-year period	16 	%		14 	%		8 	%		6 	%		11 	%	
Constant currency % change as compared to prior-year period*	16 	%		15 	%		8 	%		6 	%		11 	%	

(1) Excludes DVD revenues of $450 million for the year ended December 31, 2017. Total US revenues for the year ended December 31, 2017 was $6.6 billion.

Europe, Middle East and Africa (EMEA)										
Revenues	$	482,282 	 		$	533,098 	 			$	614,707 	 			$	732,726 	 			$	2,362,813 	 	
Paid net streaming membership additions	1,868 	 		1,453 	 			1,983 	 			2,869 	 			8,173 	 	
Paid streaming memberships at end of period	19,699 	 		21,152 	 			23,135 	 			26,004 	 			26,004 	 	
Average paid streaming memberships during period	18,765 	 		20,426 	 			22,144 	 			24,570 	 			21,476 	 	
Average monthly revenue per paying streaming membership	$8.57 	 			$8.70 	 			$9.25 	 			$9.94 	 			$9.17 	 	
% change as compared to prior-year period	3 	%			1 	%			6 	%			15 	%			7 	%	
Constant currency % change as compared to prior-year period*	11 	%			8 	%			5 	%			9 	%			8 	%	

Latin America (LATAM)										
Revenues	$	331,453 	 		$	381,459 	 			$	434,637 	 			$	495,067 	 			$	1,642,616 	 	
Paid net streaming membership additions	1,217 	 		1,588 	 			1,254 	 			1,450 	 			5,509 	 	
Paid streaming memberships at end of period	15,425 	 		17,013 	 			18,267 	 			19,717 	 			19,717 	 	
Average paid streaming memberships during period	14,817 	 		16,219 	 			17,640 	 			18,992 	 			16,917 	 	
Average monthly revenue per paying streaming membership	$7.46 	 			$7.84 	 			$8.21 	 			$8.69 	 			$8.09 	 	
% change as compared to prior-year period	21 	%			20 	%			14 	%			17 	%			17 	%	
Constant currency % change as compared to prior-year period*	15 	%			15 	%			13 	%			17 	%			15 	%	

Asia-Pacific (APAC)										
Revenues	$	116,339 	 		$	131,773 	 			$	150,993 	 			$	176,823 	 			$	575,928 	 	
Paid net streaming membership additions	523 	 		590 	 			588 	 			659 	 			2,360 	 	
Paid streaming memberships at end of period	4,664 	 		5,254 	 			5,842 	 			6,501 	 			6,501 	 	
Average paid streaming memberships during period	4,403 	 		4,959 	 			5,548 	 			6,172 	 			5,271 	 	
Average monthly revenue per paying streaming membership	$8.81 	 			$8.86 	 			$9.07 	 			$9.55 	 			$9.11 	 	
% change as compared to prior-year period	9 	%			3 	%			3 	%			8 	%			6 	%	
Constant currency % change as compared to prior-year period*	6 	%			2 	%			2 	%			7 	%			4 	%	

1	

																														
	As Of / Three Months Ended		As of / Year Ended	
	March 31,
2018		June 30,
2018		September 30,
2018		December 31,
2018		December 31,
2018	
United States and Canada (UCAN)										
Revenues (2)	$	1,976,157 	 		$	2,049,546 	 			$	2,094,850 	 			$	2,160,979 	 			$	8,281,532 	 	
Paid net streaming membership additions	2,487 	 		961 	 			1,140 	 			1,747 	 			6,335 	 	
Paid streaming memberships at end of period	60,909 	 		61,870 	 			63,010 	 			64,757 	 			64,757 	 	
Average paid streaming memberships during period	59,666 	 		61,390 	 			62,440 	 			63,884 	 			61,845 	 	
Average monthly revenue per paying streaming membership	$11.04 	 			$11.13 	 			$11.18 	 			$11.28 	 			$11.16 	 	
% change as compared to prior-year period	12 	%			13 	%			13 	%			10 	%			12 	%	
Constant currency % change as compared to prior-year period*	12 	%			13 	%			13 	%			10 	%			12 	%	

(2) Excludes DVD revenues of $366 million for the year ended December 31, 2018. Total US revenues for the year ended December 31, 2018 was $8.0 billion.

Europe, Middle East and Africa (EMEA)										
Revenues	$	886,649 	 		$	975,497 	 			$	1,004,749 	 			$	1,096,812 	 			$	3,963,707 	 	
Paid net streaming membership additions	3,335 	 		1,978 	 			2,519 	 			3,982 	 			11,814 	 	
Paid streaming memberships at end of period	29,339 	 		31,317 	 			33,836 	 			37,818 	 			37,818 	 	
Average paid streaming memberships during period	27,672 	 		30,328 	 			32,577 	 			35,827 	 			31,601 	 	
Average monthly revenue per paying streaming membership	$10.68 	 			$10.72 	 			$10.28 	 			$10.20 	 			$10.45 	 	
% change as compared to prior-year period	25 	%			23 	%			11 	%			3 	%			14 	%	
Constant currency % change as compared to prior-year period*	11 	%			11 	%			10 	%			6 	%			9 	%	

Latin America (LATAM)										
Revenues	$	540,182 	 		$	568,071 	 			$	562,307 	 			$	567,137 	 			$	2,237,697 	 	
Paid net streaming membership additions	1,543 	 		1,535 	 			1,320 	 			1,962 	 			6,360 	 	
Paid streaming memberships at end of period	21,260 	 		22,795 	 			24,115 	 			26,077 	 			26,077 	 	
Average paid streaming memberships during period	20,489 	 		22,028 	 			23,455 	 			25,096 	 			22,767 	 	
Average monthly revenue per paying streaming membership	$8.79 	 			$8.60 	 			$7.99 	 			$7.53 	 			$8.19 	 	
% change as compared to prior-year period	18 	%			10 	%			(3)	%			(13)	%			1 	%	
Constant currency % change as compared to prior-year period*	18 	%			18 	%			14 	%			6 	%			13 	%	

Asia-Pacific (APAC)										
Revenues	$	199,117 	 		$	221,252 	 			$	248,691 	 			$	276,756 	 			$	945,816 	 	
Paid net streaming membership additions	893 	 		978 	 			1,089 	 			1,146 	 			4,106 	 	
Paid streaming memberships at end of period	7,394 	 		8,372 	 			9,461 	 			10,607 	 			10,607 	 	
Average paid streaming memberships during period	6,948 	 		7,883 	 			8,917 	 			10,034 	 			8,446 	 	
Average monthly revenue per paying streaming membership	$9.55 	 			$9.36 	 			$9.30 	 			$9.19 	 			$9.33 	 	
% change as compared to prior-year period	8 	%			6 	%			3 	%			(4)	%			2 	%	
Constant currency % change as compared to prior-year period*	4 	%			3 	%			5 	%			2 	%			3 	%	

			
2	

																								
	As Of / Three Months Ended		As of / Nine Months Ended	
	March 31,
2019		June 30,
2019		September 30,
2019		September 30,
2019	
United States and Canada (UCAN)								
Revenues (3)	$	2,256,851 	 		$	2,501,199 	 		$	2,621,250 	 		$	7,379,300 	 	
Paid net streaming membership additions (losses)	1,876 	 		(132)	 		613 	 		2,357 	 	
Paid streaming memberships at end of period	66,633 	 		66,501 	 		67,114 	 		67,114 	 	
Average paid streaming memberships during period	65,695 	 		66,567 	 		66,808 	 		66,357 	 	
Average monthly revenue per paying streaming membership	$11.45 	 		$12.52 	 			$13.08 	 			$12.36 	 	
% change as compared to prior-year period	4 	%			12 	%			17 	%			11 	%	
Constant currency % change as compared to prior-year period*	4 	%			13 	%			17 	%			11 	%	

(3) Excludes DVD revenues of $229 million for the nine months ended September 30, 2019. Total US revenues for the nine months ended September 30, 2019 was $7.0 billion.

Europe, Middle East and Africa (EMEA)								
Revenues	$	1,233,379 	 		$	1,319,087 	 		$	1,428,040 	 		$	3,980,506 	 	
Paid net streaming membership additions	4,724 	 		1,687 	 		3,126 	 		9,537 	 	
Paid streaming memberships at end of period	42,542 	 		44,229 	 		47,355 	 		47,355 	 	
Average paid streaming memberships during period	40,180 	 		43,386 	 		45,792 	 		43,119 	 	
Average monthly revenue per paying streaming membership	$10.23 	 		$10.13 	 			$10.40 	 			$10.26 	 	
% change as compared to prior-year period	(4)	%			(6)	%			1 	%			(3)	%	
Constant currency % change as compared to prior-year period*	2 	%			3 	%			6 	%			3 	%	

Latin America (LATAM)								
Revenues	$	630,472 	 		$	677,136 	 		$	741,434 	 		$	2,049,042 	 	
Paid net streaming membership additions	1,470 	 		343 	 		1,490 	 		3,303 	 	
Paid streaming memberships at end of period	27,547 	 		27,890 	 		29,380 	 		29,380 	 	
Average paid streaming memberships during period	26,812 	 		27,719 	 		28,635 	 		27,722 	 	
Average monthly revenue per paying streaming membership	$7.84 	 		$8.14 	 			$8.63 	 			$8.21 	 	
% change as compared to prior-year period	(11)	%			(5)	%			8 	%			(3)	%	
Constant currency % change as compared to prior-year period*	7 	%			12 	%			17 	%			12 	%	

Asia-Pacific (APAC)								
Revenues	$	319,602 	 		$	349,494 	 		$	382,304 	 		$	1,051,400 	 	
Paid net streaming membership additions	1,534 	 		801 	 		1,543 	 		3,878 	 	
Paid streaming memberships at end of period	12,141 	 		12,942 	 		14,485 	 		14,485 	 	
Average paid streaming memberships during period	11,374 	 		12,542 	 		13,714 	 		12,543 	 	
Average monthly revenue per paying streaming membership	$9.37 	 		$9.29 	 			$9.29 	 			$9.31 	 	
% change as compared to prior-year period	(2)	%			(1)	%			— 	%			(1)	%	
Constant currency % change as compared to prior-year period*	3 	%			5 	%			3 	%			4 	%	

*The Company believes that constant currency information is useful in analyzing the underlying trends in average monthly revenue per paying membership. In order to exclude the effect of foreign currency rate fluctuations on average monthly revenue per paying membership, the Company estimates current period revenue assuming foreign exchange rates had remained constant with foreign exchange rates from the prior-year period.

			
3