Home » Canadians have paid Netflix nearly $800M so far this year

Canadians have paid Netflix nearly $800M so far this year

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But streaming service collects neither GST nor HST. Netflix pulled back the curtain on new financial details on Monday that revealed how many Canadians subscribed to the service and how much they are paying a giant drain.

Company based in California Los Gatos, grossed $ 780 million Cdn revenue from Canada during the first nine months of the financial year 2019, according to documents filed with the US Securities and Exchange Commission.

Which compares income Canada $ 835 million on a full 12-month period of 2018, and $ 668 million during 2017.

The numbers can add heat to the debate Netflix does not pay taxes domestic income. Some critics argue Netflix draw viewers away from homegrown TV program while injecting very little cultural content into the media landscape.

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Under the current regulations, foreign digital services, which include running platform, also does not collect federal goods and services tax (GST) or a combined federal-provincial sales tax (HST). One exception is Quebec where the sales tax imposed earlier this year.

The documents filed by the company flows also showed 6.5 million paid subscribers to use the service in Canada until September 30 – an increase of 200,000 accounts payable from the end of 2018.

Viewership numbers

In 2017, Netflix is ​​committed to spending $ 500 million over five years in TV and film production in Canada, promises the company said earlier this year has been exceeded.

Netflix has vowed to be more open with the details of the quarterly business as it expands its global presence. a more complete disclosure company can convince investors of competitiveness in an increasingly crowded market flows.

The Company intends to report quarterly revenue and membership figures by region starting with the fourth-quarter earnings in January. The market will be divided into four regions – Asia-Pacific; Latin America; Europe, Middle East & Africa; and the US and Canada – with Canada representing approximately 10 percent of the North American business.

“Under this new reporting format, we will only provide guidance global membership to a paid membership for the next quarter to report any income,” he said in a statement.

Netflix also plans to offer a number of internal audiences on more than the original film and TV projects, which include Foreign Things, The Irish and Wedding Story.

Those details will come in handy as prognosticators consider the dominant position to flow the company of some of his biggest rivals, including Amazon Prime Video, and the newly launched Apple TV Plus and Disney Plus.

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