Netflix Increases Subscription Prices in the United States, United Kingdom, and France

KOMPAS.com – Netflix increased subscription prices for a number of streaming packages in the United States, United Kingdom and France on Wednesday (18/10/2023).

The increase in subscription prices was carried out amidst the soaring number of new subscribers which made Netflix shares jump 13 percent.

Reporting from Reuters, Wednesday (18/10/2023), in the third quarter of 2023 Netflix users were reported to have increased by around nine million subscribers from all over the world.

This number is expected to continue to increase again at the end of the 2023 quarter.

The strong performance shows that Netflix continues to thrive despite current labor tensions in Hollywood that have shut down most production in the United States.

Also read: The True Story of the Netflix Documentary The Devil on Trial, Murder Due to Possession

Netflix’s success

Netflix has shown a number of successes, including the release of the series “One Piece”.

A live action adaptation of the acclaimed Japanese manga series and an example of a major investment in stories with local resonance that spans the globe.

Streaming giant Netflix has also been successful in attracting new viewers to long-running television shows, such as the legal drama “Suits” and HBO’s War of the Worlds series “Band of Brothers.”

“This is a time when I’m excited because Netflix has such a rich, deep and broad selection of programming,” said Netflix Co-CEO Ted Sarandos, after releasing quarterly results.

The increase in subscribers in the company’s third quarter was its strongest increase since the second quarter of 2020 during the Covid-19 pandemic.

The lockdown policies implemented by a number of countries during the pandemic caused an unprecedented surge in streaming subscriptions.

Also read: Reasons Why the Ministry of Law and Human Rights Banned Interviewing Jessica Wongso in Netflix Films

Netflix package prices increase

Quoted from The Verge, Thursday (19/10/2023), Netflix announced that basic package users will start at 9.99 US dollars or around IDR 157,000 per month, increasing to 11.99 US dollars or around IDR 188,000 per month.

For premium Netflix customers, from the price of 19.9 US dollars or around IDR 313,000 per month there has now been a price increase of 22.99 US dollars or around IDR 361,000.

Meanwhile, the ad-supported Netflix package starts at 6.99 US dollars or around Rp. 109,000 and the standard package is 15.49 US dollars or around Rp. 243,000 will remain at the same price and there will be no increase in costs.

Also read: 20 Films Airing in October 2023 in Cinemas and Netflix

Netflix last raised subscription prices in January 2022 and stopped offering a basic ad-free package worth 9.99 US dollars or around Rp. 157,000 to new users.

Over the past few months, Netflix said it has added 8.76 million new subscribers, bringing its global subscriber total to 247.15 million.

Additionally, Netflix also made significant profits on its ad-supported plans with membership increasing by nearly 70 percent annually.

Netflix said accounts on its cheapest tier now account for about 30 percent of all new signups in the 12 countries where the plan is offered.

Due to the removal of the basic plan in the United States, United Kingdom, and Italy, the company announced that it will make the same changes in Germany, Spain, Japan, Mexico, Australia, and Brazil next week.

Then, Netflix also plans to roll out new features for its ad-supported plans, and will include a way to download content starting next month.

Also read: [POPULER TREN] Sukarno and Suharto’s Position During the G30S/PKI | Jessica Wongso Banned from Interviewing Netflix Films

Netflix will also add better resolution and the ability to watch two streams at once to its paid plans early this year.

It is known that Netflix has a strong series of content planned over the next month. With its first live sporting event, The Netflix Cup airing on November 14, 2023.

Meanwhile, the service is also debuting the reality show Squid Game and anime Scott Pilgrim in November 2023, and adding Across the Spider-Verse at the end of October 2023.

Also read: List of 14 Films Airing in September 2023, Available in Cinemas and Netflix

Get selected news updates and breaking news every day from Kompas.com. Let’s join the Telegram Group “Kompas.com News Update”, by clicking the link https://t.me/kompascomupdate, then join. You must install the Telegram application first on your cellphone.

2023-10-19 14:00:00
#Netflix #Raises #Subscription #Prices #Month #Kompas.com