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Operating Expense Breakdown
Details core costs like content creation, marketing, and technology, offering insight into how efficiently Netflix operates and where it’s focusing its spending to drive growth and maintain its competitive edge.Marketing shows recurring Q4 spikes but has meaningfully stepped up in 2024–26, consistent with an aggressive ad-sales and member-growth push (advertiser base +70%, ads target ~$3B) and regional investments like Japan/APAC; Technology & Development is on a steady upward trajectory—accentuated by the Interpositive acquisition—reflecting heavier AI, personalization and gaming spend. G&A has also trended higher with M&A timing noise. Management’s maintained 2026 margin guide implies confidence revenue will absorb these investments, but expense timing and content/talent competition remain near‑term margin risks.
Date | General and Administrative | Marketing | Technology and Development |
|---|---|---|---|
Jun 30, 2026 | $498.85M | $823.84M | $1.01B |
Mar 31, 2026 | $602.61M | $842.22M | $959.70M |
Dec 31, 2025 | $567.80M | $1.11B | $890.30M |
Sep 30, 2025 | $457.93M | $786.29M | $853.58M |
Jun 30, 2025 | $441.21M | $713.26M | $824.68M |
Mar 31, 2025 | $421.45M | $688.37M | $822.82M |
Dec 31, 2024 | $453.67M | $976.20M | $776.50M |
Sep 30, 2024 | $417.35M | $642.93M | $735.06M |
Jun 30, 2024 | $426.99M | $644.08M | $711.25M |
Mar 31, 2024 | $404.02M | $654.34M | $702.47M |