$11.70 a month: the final global number before Netflix switched the metric off
Netflix average revenue per membership, often called Netflix ARPU, was $11.70 a month in 2024, the last full year the company reported it, up 1 percent from $11.64 in 2023 and 4 percent on a constant currency basis. In Q4 2024, the last reported quarter, regional ARM was $17.26 in UCAN, $11.11 in EMEA, $8.00 in LATAM and $7.34 in APAC. Netflix has not published ARM or paid membership counts for any period since then.
Netflix calls the measure ARM, short for average revenue per membership; the annual reports use the full name average monthly revenue per paying membership, and analysts often say ARPU. It shows how much streaming revenue each paid account generated in a month on average. Because a household shares one membership, it is revenue per account, not per viewer.
Same service, very different price points: a UCAN membership produced $9.92 a month more than an Asia-Pacific membership in Q4 2024.
The ranking of the regions did not change in the last years of reporting, but the distance between them did. UCAN ARM was 2.35 times the Asia-Pacific level in Q4 2024. Latin America, often thought of as the cheapest region, was ahead of Asia-Pacific in every quarter from Q3 2022 onward. For the revenue each region produces in total, rather than per member, see our breakdown of Netflix revenue by region.
Nine years of global ARM: fast gains to 2021, then a plateau
The annual reports give a worldwide ARM figure for every year from 2016 to 2024. Between 2016 and 2018 the number rose by roughly 9 to 10 percent a year as Netflix raised prices and members moved to higher priced plans. Growth then slowed to 4.9 percent in 2019 and 0.8 percent in 2020, a year in which the pandemic brought in tens of millions of new members, many of them in lower priced markets.
A three cent gain in three years: global ARM was $11.67 in 2021 and $11.70 in 2024, even though prices rose in many countries over that period.
| Year | Global ARM (US$) | Change vs prior year | Average paying memberships (million) | ARM x 12 (US$ per year) |
|---|---|---|---|---|
| 2016 | $8.61 | - | - | $103.32 |
| 2017 | $9.43 | +9.5% | - | $113.16 |
| 2018 | $10.31 | +9.3% | - | $123.72 |
| 2019 | $10.82 | +4.9% | 152.98 | $129.84 |
| 2020 | $10.91 | +0.8% | 189.08 | $130.92 |
| 2021 | $11.67 | +7.0% | 210.78 | $140.04 |
| 2022 | $11.76 | +0.8% | 222.92 | $141.12 |
| 2023 | $11.64 | -1.0% | 240.89 | $139.68 |
| 2024 | $11.70 | +0.5% | 277.73 | $140.40 |
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ARM and average paying memberships are Netflix figures from the 10-K reports. Year over year change and the annual equivalent (ARM multiplied by 12) are BusinessStats calculations. Average paying memberships for 2016 to 2018 are not shown here.
The flat stretch after 2021 is the central fact of the series. In 2022 global ARM grew 0.8 percent to $11.76, its highest level, while Netflix said the gain from price changes was partly offset by a stronger US dollar. In 2023 it fell 1.0 percent to $11.64, which the 10-K attributed to changes in plan mix and faster membership growth in regions with lower ARM, partly offset by limited price increases. In 2024 it returned to growth at $11.70. Over the same three years average paying memberships climbed from 210.78 million to 277.73 million, so total streaming revenue grew strongly even with a stable price per member. Our Netflix subscribers worldwide tracker follows that membership side quarter by quarter.
Before the four region structure, Netflix reported two segments. The domestic (US) streaming segment had ARM of $9.21 in 2016, $10.18 in 2017 and $11.40 in 2018, while the international segment had $7.81, $8.66 and $9.43. Those segment figures are not directly comparable with the later UCAN, EMEA, LATAM and APAC series, because the domestic segment excluded Canada.
UCAN rose 54 percent from 2018 to 2024; Asia-Pacific fell 22 percent
From 2018, the annual reports split ARM across the four regions. The yearly figures show one region pulling away from the others. UCAN ARM increased every single year, from $11.16 in 2018 to $17.20 in 2024. EMEA ended the period close to where it started, at $10.96 against $10.45. Latin America was almost unchanged in dollars, and Asia-Pacific declined.
Diverging lines: in 2018 all four regions were within $3 of each other; by 2024 the spread between UCAN and Asia-Pacific was $9.91.
| Year | UCAN | EMEA | LATAM | APAC | Global | UCAN vs APAC |
|---|---|---|---|---|---|---|
| 2018 | $11.16 | $10.45 | $8.19 | $9.33 | $10.31 | 1.20x |
| 2019 | $12.57 | $10.33 | $8.21 | $9.24 | $10.82 | 1.36x |
| 2020 | $13.32 | $10.72 | $7.45 | $9.12 | $10.91 | 1.46x |
| 2021 | $14.56 | $11.63 | $7.73 | $9.56 | $11.67 | 1.52x |
| 2022 | $15.86 | $10.99 | $8.48 | $8.50 | $11.76 | 1.87x |
| 2023 | $16.28 | $10.87 | $8.66 | $7.64 | $11.64 | 2.13x |
| 2024 | $17.20 | $10.96 | $8.24 | $7.29 | $11.70 | 2.36x |
| Change 2018 to 2024 | +54.1% | +4.9% | +0.6% | -21.9% | +13.5% | - |
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Each region has its own story. UCAN combined repeated price increases with a shift toward higher priced plans and, after the paid sharing rollout, extra member fees. EMEA rose to $11.63 in 2021, then fell to $10.99 in 2022 as the dollar strengthened against European currencies; Netflix reported a 6 percent decline in dollars but a 6 percent increase at constant currency that year. Latin America repeatedly raised local prices, but devaluations, above all of the Argentine peso, removed most of the gain in dollar terms.
Asia-Pacific is the only region where ARM fell even at constant currency in several years: by 2 percent in 2022, 6 percent in 2023 and 3 percent in 2024. Netflix lowered prices in India across all four plans in December 2021, and most of the region membership growth came from markets with lower price points. The region added 41.31 million paid memberships between the end of 2019 and the end of 2024, more than it had in total at the end of 2019 (16.23 million). The country picture behind these averages is covered in our estimates of Netflix subscribers by country.
Twenty one quarters of regional ARM
Netflix began publishing quarterly regional data with its Q4 2019 results. Each letter shows five quarters, so the series below combines the Q4 letters for 2020 to 2024, and it shows turning points that annual averages smooth out.
Peak quarters: UCAN peaked at $17.30 in Q1 2024, EMEA at $11.66 in Q2 2021, LATAM at $8.85 in Q3 2023 and APAC at $9.74 in Q2 2021.
| Quarter | UCAN | EMEA | LATAM | APAC |
|---|---|---|---|---|
| Q4 2019 | $13.22 | $10.51 | $8.18 | $9.07 |
| Q1 2020 | $13.09 | $10.40 | $8.05 | $8.94 |
| Q2 2020 | $13.25 | $10.50 | $7.44 | $8.96 |
| Q3 2020 | $13.40 | $10.88 | $7.27 | $9.20 |
| Q4 2020 | $13.51 | $11.05 | $7.12 | $9.32 |
| Q1 2021 | $14.25 | $11.56 | $7.39 | $9.71 |
| Q2 2021 | $14.54 | $11.66 | $7.50 | $9.74 |
| Q3 2021 | $14.68 | $11.65 | $7.86 | $9.60 |
| Q4 2021 | $14.78 | $11.64 | $8.14 | $9.26 |
| Q1 2022 | $14.91 | $11.56 | $8.37 | $9.21 |
| Q2 2022 | $15.95 | $11.17 | $8.67 | $8.83 |
| Q3 2022 | $16.37 | $10.81 | $8.58 | $8.34 |
| Q4 2022 | $16.23 | $10.43 | $8.30 | $7.69 |
| Q1 2023 | $16.18 | $10.89 | $8.60 | $8.03 |
| Q2 2023 | $16.00 | $10.87 | $8.58 | $7.66 |
| Q3 2023 | $16.29 | $10.98 | $8.85 | $7.62 |
| Q4 2023 | $16.64 | $10.75 | $8.60 | $7.31 |
| Q1 2024 | $17.30 | $10.92 | $8.29 | $7.35 |
| Q2 2024 | $17.17 | $10.80 | $8.28 | $7.17 |
| Q3 2024 | $17.06 | $10.99 | $8.40 | $7.31 |
| Q4 2024 | $17.26 | $11.11 | $8.00 | $7.34 |
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Three episodes stand out. In 2020 Latin American ARM dropped from $8.18 to $7.12 within a year, a 13 percent fall in dollars even though it rose 4 percent at constant currency in Q4 2020. In 2022 the strong dollar pushed EMEA ARM down for four quarters in a row, from $11.56 in Q1 to $10.43 in Q4, while the currency neutral rate stayed between plus 5 and plus 7 percent. And from Q4 2022, when the ad-supported plan launched, Asia-Pacific ARM never returned above $8.03.
Netflix also reported global ARM growth each quarter. The table below shows the fourth quarter of each year and all four quarters of 2024, the last year of reporting.
| Quarter | Reported | F/X neutral |
|---|---|---|
| Q4 2020 | 0% | 0% |
| Q4 2021 | +7% | +7% |
| Q4 2022 | -2% | +5% |
| Q4 2023 | +1% | +1% |
| Q1 2024 | +1% | +4% |
| Q2 2024 | +1% | +5% |
| Q3 2024 | 0% | +5% |
| Q4 2024 | +1% | +3% |
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In 2024 Latin America ARM fell 5 percent in dollars but rose 21 percent in local terms
Netflix bills most members in local currency and reports in US dollars. To separate pricing from exchange rates, it also published ARM growth at constant currency, which restates the current period at the prior year exchange rates. The gap between the two numbers is a direct measure of how much currency movements hid or flattered what members actually paid.
A 26 point gap: in Latin America, local price increases (especially in Argentina) were almost entirely offset by currency devaluation in dollar terms.
The same pattern runs through every annual report since 2020. Netflix put the revenue it lost to exchange rates at about $596 million in 2020, $1,773 million in 2022, $597 million in 2023 and $1,424 million in 2024, comparing each year with the rates of the year before. In 2024 the 10-K named the devaluation of the Argentine peso as the main cause, together with large local price increases in that country driven by inflation.
| Period | UCAN | EMEA | LATAM | APAC |
|---|---|---|---|---|
| 2020 vs 2019 | +6% / +6% | +4% / +3% | -9% / +8% | -1% / -1% |
| 2022 vs 2021 | +9% / +9% | -6% / +6% | +10% / +14% | -11% / -2% |
| 2023 vs 2022 | +3% / +3% | -1% / -1% | +2% / +10% | -10% / -6% |
| 2024 vs 2023 | +6% / +6% | +1% / +1% | -5% / +21% | -5% / -3% |
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The 2021 report is not included because its regional ARM table was not available in a form we could verify; 2021 values in the yearly table above come from the 2022 report.
Every region can rise while the global average stands still
Global ARM is a weighted average. When membership grows fastest in the regions with the lowest ARM, the global figure can stagnate even if prices go up everywhere. That is what happened between 2019 and 2024. At the end of 2019 UCAN accounted for 40.5 percent of paid memberships and Asia-Pacific for 9.7 percent. Five years later the UCAN share was 29.7 percent and Asia-Pacific had doubled to 19.1 percent.
The weight moved east and south: the two lowest ARM regions, LATAM and APAC, grew from 28.5 to 36.8 percent of memberships.
The 10-K for 2023 says this directly: the decline in global ARM that year was primarily due to changes in plan mix and higher membership growth in regions with lower average monthly revenue per paying membership. Plan mix matters too. The ad-supported plan, launched in 12 countries in November 2022, was priced below the ad-free plans, and Netflix reported that it accounted for 40 percent of sign-ups in its ads markets in Q4 2023, over 45 percent in Q2 2024, over 50 percent in Q3 2024 and over 55 percent in Q4 2024. Advertising income is counted in streaming revenue, so it feeds into ARM, but Netflix described its ad revenue as still small relative to subscriptions in 2025. Usage of these plans is tracked on our pages on ad-supported Netflix users by region and monthly ad-supported users.
- 2018: ARM increased primarily due to price changes and a shift in plan mix towards higher priced plans (10-K).
- 2020: the increase resulted from price changes and plan mix, partially offset by unfavorable foreign exchange rates (10-K).
- 2022: price changes, partially offset by the strengthening of the US dollar (10-K).
- 2023: decline primarily due to plan mix and higher membership growth in lower ARM regions, partially offset by limited price increases (10-K).
- 2024: revenue growth primarily due to growth in average paying memberships and price increases, with unfavorable exchange rates driven by the Argentine peso (10-K).
The formula behind Netflix ARPU
Netflix defined ARM in a footnote to every letter: streaming revenue divided by the average number of streaming paid memberships, divided by the number of months in the period. The figures do not include sales taxes or VAT. A paid membership is one that has the right to receive the Netflix service following sign-up and a method of payment being provided, so accounts without a payment method are excluded.
ARM = streaming revenue / average paid memberships / months in the period. Check with 2024 figures from the 10-K: $11.70 x 277.73 million average paying memberships x 12 months = about $38.99 billion, in line with the $39.00 billion of revenue Netflix reported for 2024.
- Per account, not per person. One Premium membership can stream on several screens, and extra member slots added through paid sharing count as revenue of the paying account.
- All streaming revenue counts. Subscription fees, extra member fees and, from late 2022, advertising revenue all sit in streaming revenue, so they all raise ARM.
- Averages hide plan prices. ARM blends every plan and country in a region, so it does not equal the list price of any single plan.
Because the formula divides by memberships, ARM cannot be rebuilt for 2025 or 2026: Netflix no longer publishes the denominator. Any ARPU number for those years found elsewhere is an estimate, not a Netflix disclosure, and this page does not show one.
Announced in April 2024, effective with Q1 2025
In its Q1 2024 letter, published in April 2024, Netflix wrote that starting with its Q1 2025 earnings it would stop reporting quarterly membership numbers and ARM. The letter gave three reasons. Netflix now generates very substantial profit and free cash flow, so revenue and operating margin had become its primary financial metrics. Memberships are just one component of growth, because the company is building advertising and the extra member feature. And each incremental membership has a very different business impact, given tiered pricing by country.
- January 2020: the Q4 2019 letter is the first with the four region breakdown, including quarterly ARM.
- April 2024: Netflix announces it will stop reporting memberships and ARM from Q1 2025 and will add annual revenue guidance.
- 21 January 2025: the Q4 2024 letter, with 301.63 million paid memberships, is the last to include regional ARM.
- April 2025: the Q1 2025 letter shows revenue, reported growth and F/X neutral growth by region, without memberships or ARM.
- 20 January 2026: Netflix says it crossed 325 million paid memberships during Q4 2025, a milestone rather than a regular count.
The 10-K for 2025 confirms that Netflix discontinued the reporting of membership numbers, including average paying memberships. What replaced the metric is a set of revenue disclosures: quarterly revenue for each region with reported and F/X neutral growth, annual revenue and operating margin guidance, a twice yearly engagement report covering what members watch, and membership milestones. The regional revenue series is analysed in detail on our Netflix revenue by region page, and company wide totals and margins in our Netflix revenue statistics.
What Netflix costs in the United States in 2026
The Netflix Help Center lists three plans for the United States. These are the prices shown when we checked on 1 November 2026, before any sales tax. The Basic plan without ads has been discontinued; Netflix said it phased the plan out in the US in Q3 2024.
| Plan | Monthly price | Extra member option |
|---|---|---|
| Standard with ads | $8.99 | 1 extra member at $7.99 (with ads) or $9.99 (without ads) |
| Standard | $19.99 | 1 extra member at $7.99 (with ads) or $9.99 (without ads) |
| Premium | $26.99 | Up to 2 extra members at $7.99 (with ads) or $9.99 (without ads) each |
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Netflix shareholder letters usually name the countries where prices change but not the new amounts. The milestones below are the ones documented in materials published by Netflix.
| Date | Change | Price | Netflix source |
|---|---|---|---|
| 13 Oct 2022 | Basic with Ads announced for 12 countries, US launch on 3 November 2022 | $6.99 per month (US) | Netflix newsroom |
| Q4 2023 | Price rises in the US, UK and France | Amounts not stated | Q4 2023 letter |
| Q3 2024 | Basic plan phased out in the US and France | Plan removed | Q3 2024 letter |
| 21 Jan 2025 | Prices adjusted across most plans in the US, Canada, Portugal and Argentina | Amounts not stated | Q4 2024 letter |
| Q1 2026 | Ads plan price cited in the shareholder letter | $8.99 per month (US) | Q1 2026 letter |
| First half 2026 | Price changes in markets such as the US, Mexico and Spain | See current prices above | Q2 2026 letter |
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Two comparisons put these prices in context. The US ad plan now costs $2.00 more than at its launch in November 2022, an increase of 28.6 percent. And the ad plan price of $8.99 is just over half of the $17.26 a UCAN membership generated on average in Q4 2024, which shows how much of the UCAN average came from ad-free plans and extra members. For a comparison with a rival service, see the subscription prices of Disney streaming services in the US.
Worldwide, the gap between the cheapest and the most expensive plan has widened. Each 10-K states the range of monthly prices on paid plans, converted to US dollars, at the end of the year.
From $24 to $37: the most expensive Netflix plan anywhere rose by $13 a month between the end of 2020 and the end of 2025, while the cheapest stayed at about $1.
What Netflix says now instead of ARM
Without a published ARM, the best guide is how Netflix explains each quarter of revenue growth. Every letter since Q1 2025 names the same drivers: more members, higher prices and advertising.
- Q1 2025: revenue grew 13 percent (16 percent F/X neutral), driven primarily by membership growth and higher pricing; ad revenue was described as still very small relative to subscription revenue.
- Q2 2025: UCAN revenue growth accelerated to 15 percent from 9 percent in Q1 because of the full quarter impact of price changes.
- Q4 2025: Netflix crossed 325 million paid memberships, and ad revenue rose more than 2.5 times to over $1.5 billion for 2025.
- Q1 2026: the ads plan, priced at $8.99 in the US, represented over 60 percent of all sign-ups in ads countries; Netflix then expected about $3 billion of ad revenue in 2026.
- Q2 2026: UCAN revenue growth of 10 percent reflected only a partial quarter impact of the latest US price change.
- Q3 2026: growth was driven primarily by subscription revenue, reflecting increases in memberships and pricing, plus advertising; Netflix lowered its 2026 ad revenue expectation to about $2.7 billion and described its aim as being the last service members would cancel, with industry leading retention and continued member and ARM growth.
That last statement matters for anyone tracking this metric. Netflix still refers to ARM growth in its letters; it simply no longer publishes the figure. For 2026 the company forecasts revenue of $51.1 billion, up 13 percent, with an operating margin of 31.5 percent, and it plans to launch the ad tier in 15 more countries in 2027. Revenue per member therefore keeps rising through two channels: price increases on subscriptions and a growing advertising line on top of the cheaper plan. How Netflix spends that money is covered in our analysis of Netflix content spending, and the profit it leaves behind in Netflix net income.
Rivals define their metrics differently, so compare with care; see Disney+ average revenue per subscriber and our ranking of streaming subscribers by platform.
How the figures on this page were compiled
- Annual global ARM for 2016 to 2024 and annual regional ARM for 2018 to 2024 come from the results of operations tables in the Netflix Form 10-K reports for 2018, 2020, 2022, 2023 and 2024. Where two reports cover the same year, the later report was used.
- Quarterly regional ARM for Q4 2019 to Q4 2024 comes from the regional tables in the Q4 letters for 2020 to 2024; overlapping quarters were cross checked. The letters gave quarterly global ARM only as a growth rate.
- Reported and constant currency changes are Netflix figures. Year over year changes in dollars, the UCAN to APAC ratio, membership shares and the price increase of the ad plan are BusinessStats calculations.
- US plan prices are taken only from Netflix sources: the Help Center (current prices), the Netflix newsroom (ad plan launch) and the shareholder letters. Earlier US list prices that Netflix did not publish itself are not shown.
- No ARM figures are given for 2025 or 2026 because Netflix stopped reporting memberships. The previous edition of this page showed ARM values for 2025 and projections for 2026 and 2027 that were not Netflix disclosures, along with several incorrect historical values; all have been removed or corrected.
Netflix ARM in eight numbers
Questions about Netflix ARPU
It is average revenue per membership, which Netflix calls ARM: streaming revenue divided by the average number of paid memberships, divided by the number of months. It excludes sales tax and VAT and measures revenue per account, not per viewer.
Global ARM was $11.70 a month for full year 2024, up 1 percent from $11.64 in 2023. In Q4 2024, the last reported quarter, ARM was $17.26 in UCAN, $11.11 in EMEA, $8.00 in Latin America and $7.34 in Asia-Pacific.
The United States and Canada. UCAN ARM was $17.20 for 2024, 2.36 times the Asia-Pacific level of $7.29, and reached a quarterly high of $17.30 in Q1 2024.
Netflix announced in April 2024 that from Q1 2025 it would focus on revenue and operating margin, because it now earns substantial profit, advertising and extra members make memberships only one part of growth, and members in different countries have very different value.
According to the Netflix Help Center, Standard with ads costs $8.99 a month, Standard $19.99 and Premium $26.99. An extra member costs $7.99 with ads or $9.99 without ads.
Asia-Pacific ARM dropped from $9.56 in 2021 to $7.29 in 2024 as membership grew fastest in lower priced markets, Netflix cut prices in India in December 2021 and several currencies weakened. It also fell at constant currency in 2022, 2023 and 2024.
The plan is cheaper, so a large share of sign-ups on it lowers the subscription part of ARM, but ad revenue is included in streaming revenue. Netflix said the ads plan took over 55 percent of sign-ups in ads countries in Q4 2024 and expects about $2.7 billion of ad revenue in 2026.
Not from Netflix. The company stopped publishing memberships and ARM from Q1 2025, so any 2025 or 2026 ARPU figure is a third party estimate. Netflix says revenue growth now comes from more members, pricing and advertising.
Netflix: Q3 2026 letter to shareholders, 20 October 2026 (growth drivers, 2026 ad revenue outlook, 2026 guidance, ARM comment).
Netflix: Q2 2026 letter to shareholders, 16 July 2026 (first half price changes in the US, Mexico and Spain).
Netflix: Q1 2026 letter to shareholders, April 2026 (US ads plan price of $8.99, share of sign-ups).
Netflix: Q4 2025 letter to shareholders, 20 January 2026 (325 million paid memberships, 2025 ad revenue).
Netflix: Form 10-K for fiscal year 2025 (discontinued membership reporting, plan price range).
Netflix: Q1 2025 letter to shareholders, April 2025 (first letter without memberships or ARM).
Netflix: Q2 2025 letter to shareholders, July 2025 (impact of price changes in UCAN).
Netflix: Q4 2024 letter to shareholders, 21 January 2025 (regional ARM Q4 2023 to Q4 2024, price adjustments, end of ARM reporting).
Netflix: Form 10-K for fiscal year 2024 (global and regional ARM 2023 and 2024, constant currency change, F/X impact).
Netflix: Q3 2024 letter to shareholders (ARM growth, Basic plan phase out, ads plan sign-ups).
Netflix: Q2 2024 letter to shareholders (ARM growth, Argentina pricing, ads plan sign-ups).
Netflix: Q1 2024 letter to shareholders, April 2024 (decision and reasons to stop reporting memberships and ARM).
Netflix: Q4 2023 letter to shareholders (regional ARM Q4 2022 to Q4 2023, price rises in the US, UK and France).
Netflix: Form 10-K for fiscal year 2023 (regional ARM 2022 and 2023, ARM drivers).
Netflix: Q4 2022 letter to shareholders (regional ARM Q4 2021 to Q4 2022, ads plan launch).
Netflix: Form 10-K for fiscal year 2022 (global ARM 2020 to 2022, regional ARM 2021 and 2022).
Netflix: Q4 2021 letter to shareholders (regional ARM Q4 2020 to Q4 2021, India price cut).
Netflix: Q4 2020 letter to shareholders (regional ARM Q4 2019 to Q4 2020).
Netflix: Form 10-K for fiscal year 2020 (global and regional ARM 2018 to 2020).
Netflix: Form 10-K for fiscal year 2018 (global, domestic and international ARM 2016 to 2018).
Netflix newsroom: Announcing Basic with Ads, 13 October 2022, and Our newest plan now available, 3 November 2022.
Netflix Help Center: Plans and Pricing, United States, checked 1 November 2026.