![]() On the earnings call, co-CEOs Sarandos and Greg Peters also stressed Netflix's investments in newer business areas, like gaming and sports content, to draw new subscribers. "We need to get a deal done that respects all sides as soon as we possibly can." "The industry, our communities and the economy are all hurting," Sarandos said Wednesday. Rather, many customers who previously borrowed passwords from others are converting into full paying subscribers, according to Netflix. Netflix said it has officially rolled out its "paid sharing" program in every region where the company operates, and fewer customers than they expected cancelled their memberships as a result. Netflix attributed some of its strong subscriber growth to its continued password-sharing crackdown. Overall, Netflix reported 247 million paid global subscribers in the third quarter. That's compared to 2.4 million in the third quarter last year. The company reported a 9% year-over-year increase in average paid memberships, adding 8.8 million subscribers last quarter. Netflix also announced price increases for some subscription tiers in the United Kingdom and France. All other plans, including its entry-level, $6.99-a-month ad-supported tier, will remain at the same monthly cost. Its one-stream basic plan will rise to $11.99 in the United States. The streaming giant said in its third-quarter earnings report that its premium ad-free plan in the United States will increase by $3 per month, to $22.99, starting Wednesday. ![]() ![]() CHICAGO - Netflix has raised its prices again. Streaming deals: Disney+ | Max | Sling | Fubo | Peacock | Paramount+īlack Friday is just around the corner if you're looking to pick up a discounted TV this holiday season, check out our guide to the best Black Friday TV deals (so far). This success is likely to be attributed to the aforementioned password-sharing crackdown, which could encourage other streaming services to follow suit - much to the chagrin of subscribers. As a result of this boost in membership, the streaming giant also generated $8.54 billion of revenue last quarter, which is ahead of forecast. In addition to news about the price increase, Wednesday's earnings report revealed that Netflix added 8.8 million subscribers in the last quarter alone, an increase of 9% compared to last year. The last time Netflix raised prices was in January 2022, when its plans increased by as much as $2 per month. ![]() Netflix is also the latest in a long line of streaming services to have increased their prices in 2023, joining the likes of Disney Plus, Paramount Plus, and Max. This price increase follows Netflix's recent crackdown on password-sharing and the introduction of the new Basic with Ads plan last year. earlier this year, although current Basic subscribers can remain on the plan until they cancel or change plans. Keep in mind that Netflix ditched the Basic plan in the U.S. ![]() In the United Kingdom, the Basic and Premium plans will increase to £7.99 and £17.99 per month, while French subscribers will see an increase to €10.99 and €19.99 for the same two plans. The streaming giant Netflix dropped its latest earnings report on Wednesday, and amid news about revenue growth and an increase in subscribers, the streaming service also announced that they would be increasing prices on a number of their subscription plans.Īs a result of the price hike, the monthly cost of the Basic and Premium plans in the United States will increase to $11.99 and $22.99, respectively. The Ad plan and Standard plan will remain the same price. In the US, the Basic and Premium plans will increase to $11.99 and $22.99 per month, respectively. Netflix has announced an immediate price hike for select subscribers in the United States, France, and the UK. ![]()
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