Netflix Ups the Ante: New Users Face Elevated Subscription Fees
Increased subscription prices for some streaming plans in the United States, Britain, and France as the OTT platform broke the expectations of new customers. Nearly 9 million subscribers joined Netflix globally in the third quarter.
Raised Prices In These Countries
In the United States, Netflix prices of its premium ad-free plan have increased by $3 per month to $22.99, while the cost for premium rose by 2 pounds to 17.99 pounds in Britain and by 2 euros to 19.99 euros in France.
The Netflix subscription price hikes were announced in an earnings report that showed the company’s global subscriber base reached 247 million at the end of September.
Substantial subscriber gains came in Europe, the Middle East, and Africa, where Netflix added nearly 4 million subscribers. More than 70% of its members now reside outside the United States.
This indicates that Nexflix was thriving despite Hollywood labour tensions that shut down a large swath of US production as it makes many of its shows and movies. The company’s third-quarter customer gains represented its strongest quarterly uptick since the second quarter of 2020 when lockdowns early in the global pandemic led to an unprecedented surge in streaming subscriptions.
What’s the revenue of Netflix?
The revenue of Netflix is $8.54 billion, in line with analyst forecasts. Earnings came in at $3.73 per share. Netflix’s forecast for fourth-quarter revenue of $8.69 billion was slightly below analysts’ estimates of $8.77 billion.
Also, Netflix considers that 8% of users program series on screen time, second only to YouTube.
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