Netflix Total Cost of Revenue increased by 5.8% to $6.52B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 13.1%, from $5.77B to $6.52B. Over 4 years (FY 2021 to FY 2025), Total Cost of Revenue shows an upward trend with a 7.6% CAGR. This is a positive signal — lower values indicate better performance for this metric.
An increase relative to revenue suggests declining efficiency or rising input costs, whereas a decrease suggests better operational scaling.
The direct costs associated with producing and delivering the goods and services sold by the company. This typically inc...
Cloud-heavy companies monitor this closely as a measure of data center and infrastructure efficiency.
is_total_cost_of_revenue| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $4.02B | $4.21B | $5.24B | $4.28B | $4.69B | $4.79B | $5.40B | $4.80B | $4.67B | $4.93B | $5.31B | $4.98B | $5.17B | $5.12B | $5.77B | $5.26B | $5.33B | $6.16B | $6.52B |
| QoQ Change | — | +4.7% | +24.6% | -18.2% | +9.5% | +2.1% | +12.9% | -11.1% | -2.7% | +5.5% | +7.6% | -6.2% | +4.0% | -1.0% | +12.6% | -8.7% | +1.2% | +15.8% | +5.8% |
| YoY Change | — | — | — | — | +16.7% | +13.8% | +3.1% | +12.1% | -0.4% | +3.0% | -1.8% | +3.6% | +10.7% | +3.8% | +8.7% | +5.7% | +2.9% | +20.4% | +13.1% |
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