Netflix has increased subscription rates in the United States, the United Kingdom, and France as it exceeds projections for new subscribers.
Netflix increased subscription prices for certain streaming plans in the United States, Britain, and France as the platform exceeded expectations with nearly 9 million new global subscribers in the third quarter.
In the United States, the premium ad-free plan’s price rose by $3 per month to $22.99. In Britain, the premium plan increased by 2 pounds to 17.99 pounds, and in France, the premium plan cost went up by 2 euros to 19.99 euros, according to a Reuters report.
These price increases were announced in an earnings report that revealed Netflix’s global subscriber base reached 247 million by the end of September. Notably, substantial subscriber growth occurred in Europe, the Middle East, and Africa, where Netflix added nearly 4 million subscribers. Over 70% of its members now reside outside the United States.
Despite Hollywood labor disputes that impacted U.S. production, Netflix continued to thrive. Many of its shows and movies are produced overseas. Ted Sarandos, Netflix’s co-CEO, expressed satisfaction with the platform’s diverse content selection, which helped navigate challenges during the COVID pandemic.
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The third quarter saw the most significant increase in customers since the second quarter of 2020, when pandemic-induced lockdowns led to a surge in streaming subscriptions. Netflix reported revenue of $8.54 billion, meeting analyst expectations, and earnings of $3.73 per share, exceeding Wall Street’s anticipated $3.49. The forecast for fourth-quarter revenue, $8.69 billion, fell slightly below analysts’ estimates of $8.77 billion, as reported by Reuters.
Netflix claimed a strong presence in viewership, with its programming occupying 8% of television screen time, second only to YouTube, according to Nielsen data.
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