Netflix's main UK business reported a 1,630% increase in revenues last year, up from only £79.7m in 2020, after abandoning the widely criticized practice of funnelling British income through other lower-tax European jurisdictions, which is commonly used by tech companies.
The latest UK accounts are the first time that Netflix has not accounted for the £ibn-plus it makes annually from the monthly fees paid by British subscribers through separate accounts at its European headquarters in the Netherlands.
The move to reallocate all revenues from its 13.8 million UK subscribers to its British subsidiaries, in turn, fuelled an almost tripling of pre-tax profits from £10.6m to £27.9m at Netflix Services UK, the main entity the streaming company has registered at Companies House.
Diese Geschichte stammt aus der October 11, 2022-Ausgabe von The Guardian.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 11, 2022-Ausgabe von The Guardian.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Beaumont may step in at RFU if Ilube quits over pay fiasco
Sir Bill Beaumont could be parachuted into the Rugby Football Union as interim chair in the event Tom Ilube falls on his sword amid the botched handling of the executive pay scandal engulfing the game.
'An exciting new era' Everton owners promise return to glory days after £500m deal
The Friedkin Group vowed to restore Everton to their \"rightful place in the Premier League table\" after completing a takeover that brought the turbulent era of Farhad Moshiri to an end.
Friedkin Group brings hope of much-needed stability and ambition
The Friedkin Group's takeover of Everton represents a momentous day for those exhausted and resigned to calamity by the tenure of Farhad Moshiri.
A humble Hamilton hero who was born to score
Ex-coaches in New Zealand on Chris Wood's rise from selfless schoolboy to poster boy at Nottingham Forest
Solanke puts Spurs through despite Forster's blunders
Like a song that changes time signature for the hell of it, like a friend that inexplicably blanks you, like a match report that noodles away for ages instead of just telling you what happened, Tottenham Hotspur remain medically incapable of doing things the simple way.
“The World Cup loss fuelled a fire in me to become the best’
Ellie Kildunne's infectious enthusiasm for the women's game has her dreaming of a Twickenham final in 2025
'Usyk is fighting for his country': Dubois tips Fury to lose rematch
Daniel Dubois, the IBF world heavyweight champion, believes that Oleksandr Usyk will again defeat Tyson Fury in Riyadh tomorrow night.
Coe pledges radical reform in bid for IOC presidency
Sebastian Coe has promised to radically transform the International Olympic Committee if he is elected its next president in March - and says his track record of delivering at the London 2012 Games and at World Athletics shows he is the right choice for the leading job in sport.
Football's new fetish Forget Nicolas Jover and stylish set-piece coaches, bring on the directors of vibes
It's 25 October 2012. Those of you who follow the Austrian regional leagues won't need reminding.
Rush to start work caused enormous cost overruns, says new boss of HS2
Enormous budget overruns on the HS2 high-speed railway have been blamed by its new chief executive on a \"rush to start\", as the Department for Transport admitted it did not know what the line would cost.
