3/8/2024 0 Comments Netflix raising prices again![]() 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. Then again, they can still exhume older stuff, like the wildly popular Suits, which features a semi-member of the Royal Family.Netflix has announced an immediate price hike for select subscribers in the United States, France, and the UK. Of course, while the WGA strike was resolved last month, SAG-AFTRA is still out on the picket lines, meaning Netflix is still unable to make new scripted content to entertain those new subscribers. The number is up from their also successful Q2, when paid subscribers rose by 5.89 million, bringing the total up 8% from the previous year. In a letter to shareholders, Netflix brass credited their ad plan, with membership up 70% from the previous quarter. The last four months has seen the streamer gain a whopping 8.76 million new subscribers, bring the total to 247.15 million. The rate increases come the same day as Variety reported that Netflix had a great Q3. ![]() ![]() Likewise, the Basic plan - which allows one user and which is being phased out, with no new subscribers allowed - will increase from $9.99 to $11.99. The Standard one ($15.99) and the one with ads ($6.99) will stay the same.īut those with Premium - which allows things like downloads on six devices and the option to add two extra members who don’t live with you - will see their plan shoot up from $19.99 to $22.99. Again, it doesn’t affect everyone - only those in the U.S., the U.K., and France. Per Deadline, Netflix revealed that they’re jacking up some - but not all - of their subscription prices, effective immediately. ![]() On an unrelated note, they’re raising rates again. But the company soldiered and their reward has been two encouraging quarterly reports in a row. Attempts to crack down on password sharing and introduce an ad-supported version got off to rough starts. The streaming giant that started it all finally started shedding subscribers in droves.
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