Streaming
Netflix confirms price hike after crackdown on password sharing
The company points out that the Basic and Premium plans will cost several dollars more in the near future in some countries, including the United States.
The rumors were true: Netflix will increase the price of some subscriptions in some of its markets. This has been confirmed by the company, which has achieved record results after putting an end to password sharing. Although it is not yet a measure in all the countries where the company is present, it has been confirmed that the United States, the United Kingdom and France will be the first to be affected by this measure.
The new price increase will not affect the Standard and Standard with Ads plans, but will affect the Basic and Premium plans. Thus, the former will go from $9.99 to $11.99, while the latter will increase its price by $2, from $19.99 to $22.99.
Netflix: “We occasionally ask them to pay a bit more”
“While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” Netflix told shareholders.
In the letter to investors, the company acknowledged that the “The last six months have been challenging” for the industry due to the writers and actors strikes. Netflix acknowledged that negotiations with the actors’ union, SAG-AFTRA, are ongoing. “We’re committed to resolving the remaining issues as quickly as possible so everyone can return to work making movies and TV shows that audiences will love.”
Netflix has presented its financial results, which show the strength of the company: a total of 8,546 million dollars (more than 8,100 euros at the exchange rate) in the third quarter of the year, an increase of 7.8% over the previous year. Profits rose 20% to $1,677 million.