Netflix revenue up 52% in Spain
July 27, 2021
From David Del Valle in Madrid
2020 was a prosperous year for Netflix in Spain; its subsidiary, Los Gatos Entretenimiento, increased its revenues by 52 per cent to €11.8 million reporting a net benefit of €653.822, up 26 per cent – but far below the global growth of the streaming platform.
EBITDA amounted to over €1 million, up 50 per cent, against €708.000 in 2019. As a result, the company has paid more taxes, up to €412,000, more than double 2019’s €183,543.
The company is fully controlled by Netflix WorldWide Productions, headquartered in Delawere in the US. Los Gatos Entretenimiento, with 30 workers, is one of the two companies created in 2018 by Netflix to operate in the country and has developed a production hub.