Netflix says it is mainly reaping the benefits of its policy to restrict account sharing. As a result, more people have opened their own accounts with Netflix. In total, the company from Los Gatos, California, now has more than 247 million subscribers and the company appears to be well on its way to adding more than 20 million paying customers this year. That is significantly more than the approximately 9 million new subscribers that Netflix reported in 2022.
All this makes Netflix a lot of extra money. Last quarter, turnover rose by about 8 percent to $8.5 billion compared to a year earlier. Below the line, almost 1.7 billion dollars in profit remained. Slightly more revenue is expected for the fourth quarter of $8.7 billion. The expected profit is then lower at $956 million. Investors nevertheless seem enthusiastic about all the figures, as Netflix shares rose 11 percent in after-hours trading on Wall Street on Wednesday.
The company, which has recently attracted viewers with the series ‘Lupine’, ‘Beckham’ and ‘The Fall of the House of Usher’, is also not shying away from implementing a significant price increase in important markets. For example, Netflix is increasing the price of its most expensive subscription in the US by $3 to $23 per month. The price of a normal subscription will go from 10 to 12 dollars. The United Kingdom and France, two other major markets for the company, see similar price increases. Netflix did not announce any new price increases for other countries, including the Netherlands, on Wednesday.
2023-10-18 21:08:00
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