2021 has been a key year for Netflix. The streaming giant announced in 2020 that it was going to stop paying taxes in the Netherlands to start doing so in Spain. To do this, all users began to contract the services through Netflix Servicios de Transmission Spain, SL, the subsidiary in Spain, instead of with Netflix International BV, with fiscal headquarters in the European country.
The change, which at the time seemed more like a facelift to improve its image than a real decision, has been very good for the company and its annual accounts prove it. According to the Informa portal, Netflix has invoiced 579.3 million euros in 2021, its first year paying taxes in Spain, this figure practically means multiplying by 17 the turnover it registered in 2020, when its income was around 34.4 million ( see graph).
Despite the fact that turnover has skyrocketed by 1,581%, spending on taxes has suffered a much more moderate increase. In 2020, before the change took place, the Spanish subsidiary allocated 712,771 euros to taxes, while in 2021 this item has increased to 2.7 million euros, which is 284% more, or what is By itself, spending on taxes has almost quadrupled.
The figure is still very far from that recorded by the large Spanish audiovisual groups. Atresmedia paid 28.6 million in taxes in 2021 and Mediaset 16.7 million. It should be noted that Netflix is still far from reaching the penetration figure registered by traditional groups, on average it registers 2.6 million unique users every day compared to the 11.4 million that Antena 3 achieved in the month of July.
The increase in its turnover has also had an impact on net profit. Netflix’s earnings in Spain have reached 8.7 million euros, compared to the 1.5 million it registered in 2020 or the 924,627 euros it earned in 2019, its first full year in Spain.
The producer, 98% more
Netflix Streaming Services Spain is not the only company that has Netflix in Spain. In 2018, he launched Los gatoentertainment, his first production company in the country. This earned 1.2 million euros in 2021, practically 100% more than in 2020, in the midst of the pandemic, when its earnings were 653,822 euros, while in 2019, its first full year in Spain, it earned 518,960 euros.
However, it is noteworthy that its contribution to the public coffers has had a behavior opposite to that of the Spanish subsidiary, in fact the amount has been reduced in the last year. While in 2020 it spent 412,775 euros on paying taxes, in 2021 it was practically half, 259,043 euros.
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