As expected, on Wednesday (18) Netflix announced, during the presentation of its financial results, a price increase in the United States and parts of Europe, more precisely in France and Great Britain. Streaming, which also announced its next strategies, also surprised by announcing that the basic ad-free plan will be discontinued for new subscribers in Brazil.
According to Reuters, in addition to the price hike and cancellation of its basic ad-free plan in Brazil, Netflix also announced that nearly 9 million subscribers joined streaming worldwide in the third quarter, surpassing analysts’ forecast of Wall Street by 6 million. The company expects a similar number of additions for the current quarter.
The company has tied its success not only to the latest strategies – such as ending password sharing – but also to the overall performance of A piece and other releases highly anticipated by the public, such as the last season of Sex education. The arrival of licensed programs, such as Clothesfrom Comcast, e Band of brothersHBO’s also helped.
It’s worth mentioning that the recently ended writers’ strike was also a cause for concern for the company, although it held up well thanks to its international presence and strong catalog.
These are the moments when I’m happy that we have such a rich, deep and broad selection of programs. The same happened during Covid, when we were able to manage the roster during a prolonged and largely unpredictable production disruption.
Ted Sarandos, co-CEO of Netflix, after the release of quarterly results.
Netflix’s best quarter since 2020
In short, Netflix’s third-quarter customer growth represented the strongest quarterly increase since the second quarter of 2020, when a subscription boom occurred amid pandemic lockdowns. The company reported revenue of $8.54 billion, in line with analysts’ forecasts.
The earnings report also shows that the company’s global subscriber base reached 247 million at the end of September. Substantial subscriber increases occurred in Europe, the Middle East and Africa, where Netflix added nearly 4 million subscribers. Over 70% of its members are now outside the United States.
On the good news, streaming shares rose 13% to $390.80 in extended trading from a close of $346.19.
The post Netflix raises prices in US and Europe, cancels basic plan in Brazil appeared first on Olhar Digital.
Source: Olhar Digital
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
