On April 17, 2017>Netflix, Inc. (the Company) announced its
financial results for the quarter ended March 31, 2017. The
Letter to Shareholders, which is attached hereto as Exhibit 99.1
and is incorporated herein by reference, includes reference to
the non-GAAP financial measures of free cash flow and EBITDA.
Generally, a non-GAAP financial measure is a numerical measure of
a companys performance, financial position, or cash flows that
either excludes or includes amounts that are not normally
excluded or included in the most directly comparable measure
calculated and presented in accordance with generally accepted
accounting principles in the United States. Management believes
that the non-GAAP measures of free cash flow and EBITDA are
important liquidity metrics because they measure, during a given
period, the amount of cash generated that is available to repay
debt obligations, make investments and for certain other
activities or the amount of cash used in operations, including
investments in global streaming content. However, these non-GAAP
measures should be considered in addition to, not as a substitute
for or superior to, net income, operating income, diluted
earnings per share and net cash provided by operating activities,
or other financial measures prepared in accordance with GAAP.
Reconciliation to the GAAP equivalent of these non-GAAP measures
are contained in tabular form in Exhibit 99.1.

The information in this report shall not be treated as filed for
purposes of Section 18 of the Securities Exchange Act of 1934,
nor shall it be deemed incorporated by reference into any
registration statement or other document to the Securities Act of
1933 or the Securities Exchange Act of 1934, except as expressly
stated by specific reference in such filing.

Item 9.01 Financial Statement and Exhibits.

(d) Exhibit