# Who does Netflix pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/netflix · Facet: suppliers · Updated: 2026-09-23T08:29:49.720187+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Netflix's confirmed suppliers/cost counterparties include TKO Group Holdings, Inc., Amazon (AWS), Workday, Inc. plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 4 cost edges, backed by 6 dated sources, 2 of them primary filings (as of 2026-09-23).

### TKO 그룹 홀딩스 (high)  → /tko-group-holdings.md
- metric: Contract value $5B · initial 10-year term beginning 2025 · Reported total value of the WWE Raw media-rights agreement
- note: Netflix has exclusively distributed WWE Raw in major territories since January 2025, and TKO attributed part of its 2025 revenue growth to higher media-rights fees under this agreement.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-25) https://www.sec.gov/Archives/edgar/data/1973266/000119312526071651/tko-20251231.htm: "Higher media rights fees were attributable to the new global content distribution agreement with Netflix effective in January 2025."
- [confirms] The Korea Economic Daily (KO, analysis, published 2025-11-26) https://www.hankyung.com/article/202511253644i: "TKO signed a $5 billion exclusive rights agreement under which Netflix began carrying Raw exclusively in January 2025."

### 콘텐츠 제작·라이선스 (상각) (high)
- note: Content production and licensing amortization is the largest cost. The main driver of the FY2025 rise in cost of revenues was content amortization, and Netflix keeps raising content investment as it expands originals.
- [confirms] SEC EDGAR filing (EN, filing, published 2026-01-27) https://www.sec.gov/Archives/edgar/data/0001065280/000106528026000034/nflx-20251231.htm: "The 10-K states the FY2025 increase in cost of revenues was primarily due to higher content amortization and other cost of revenues."

### Amazon (AWS) (high)  → /amazon.md
- note: Netflix runs compute, storage and infrastructure entirely on Amazon Web Services (AWS) with no data centers of its own, using only its Open Connect CDN for video delivery. This cloud cost touches the AI infrastructure chain, but the direction is consumption (streaming).
- [confirms] Amazon Web Services (EN, ir, published 2025-01-01) https://aws.amazon.com/solutions/case-studies/innovators/netflix/: "AWS provides Netflix with compute, storage and infrastructure to scale quickly and operate securely worldwide, running cloud-native across multiple AWS regions."

### 워크데이 (low)  → /workday.md
- note: A customer of Workday Financial Management, as listed on Workday's own customer-story page and newsroom customer list. The subscription contract value is not disclosed, and no independent third-party media confirmation was found, so this is flagged as unverified single-source.
- [confirms] Workday (EN, ir, published 2026-09-05) https://newsroom.workday.com/company-overview-customer-facts: ""Workday Financial Management customers include: ... Netflix ..." (Rolling page containing FY26 figures; no explicit publish date shown.)"
- [confirms] Workday (EN, ir, published 2026-09-05) https://www.workday.com/en-us/customer-stories/i-p/netflix-builds-new-apps-simplifying-it-infrastructure.html: ""Using Workday Extend to enhance our external PO process has helped us automate a critical path to close the books and perform our financial close more quickly." (No publish date shown on page; date reflects access date.)"

Reverse side: https://valuechain.wiki/netflix/customers.md · Ripple: https://valuechain.wiki/netflix/ripple.md

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Full node: https://valuechain.wiki/netflix.md · JSON: https://valuechain.wiki/netflix.json