NFLX · 10-Q · 2026Q2 · Full report

Content Obligations

NETFLIX INC · 2026-07-17 · Importance 61 · Surprise 32 · Contradicted

Netflix reported $25.107 billion of total content obligations as of June 30, 2026, including $11.940 billion due within twelve months and $13.167 billion due thereafter. Of the total, $19.6 billion represented off-balance-sheet obligations that did not meet recognition criteria, while $5.5 billion was included in current and non-current content liabilities. Netflix also expects approximately $1 billion to $4 billion of additional unknown-title obligations over the next three years, with most payments expected after the next twelve months. Total contractual obligations were $45.435 billion, including $17.584 billion of debt obligations and $2.744 billion of operating lease obligations.

Key facts

• Material cash requirements as of June 30, 2026: total contractual obligations $45,434,685 thousand; content obligations $25,106,705 thousand; debt $17,583,712 thousand; operating lease obligations $2,744,268 thousand; next 12 months due $15,595,203 thousand. source
• As of June 30, 2026, content obligations comprised $3.9 billion included in Current content liabilities and $1.6 billion of Non-current content liabilities on the Consolidated Balance Sheets and $19.6 billion of obligations not reflected on the Consolidated Balance Sheets. source
• Total content obligations as of June 30, 2026: $25,106,705 (in thousands). source
• Amount of content obligations due in less than one year as of June 30, 2026: $11,939,734 (in thousands). source
• Current content liabilities on the Consolidated Balance Sheets as of June 30, 2026: $3,866,522 (in thousands). source
• Non-current content liabilities on the Consolidated Balance Sheets as of June 30, 2026: $1,625,600 (in thousands). source

Impact estimates