What do you think is netflix revenue model and how do they do account for their revenue, show with the help of journal

Question

Accepted Answer

Netflix revenue model is based on subscription fees from customers for access to their streaming service.

Netflix generates revenue primarily through subscription fees paid by customers for access to their streaming service.
They offer different subscription plans with varying prices and features, such as Basic, Standard, and Premium.
Netflix also generates revenue through partnerships and licensing deals with other companies for content distribution.
Revenue is recognized when services are rendered, typically on a monthly basis for subscription fees.
Journal entry for revenue recognition: Debit Accounts Receivable/Cash, Credit Service Revenue.

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