Netflix raises prices again in UK, US and France after password crackdown brings in more subscribers. Euronews

2 Min Read

8.8 million people across the world joined the streaming giant between July and September, latest numbers reveal.

Netflix disclosed summertime subscriber gains on Wednesday that surpassed industry analysts’ projections, signalling the video streaming service’s ban on password sharing is converting former freeloaders into paying customers.

In an effort to bring in even more revenue, the streaming giant also announced it is increasing the prices of two of its subscription plans in the UK, the US and France.

For Netflix’s most expensive service, the price will go up to £17.99 (€20.65) per month in the UK and to $23 (€21.82) in the US. Its ad-free lowest-priced streaming option will now cost £7.99 in the UK and $12 in the US.

The monthly prices for the ad-supported and the standard plans will remain unchanged in the three countries.

The increase took Netflix to about 247 million users across the world, well above the 243.8 million projected by experts surveyed by US business data firm FactSet Research.

In the third quarter of the year, the company earned $3.73 per share, a 20% increase compared to the same time last year. Revenue climbed 8% to $8.54 billion.

The stock price soared more than 12% in extended trading after the latest numbers came out on Wednesday.

In France, the basic and premium plans increased to €10.99 and €19.99, respectively.

TAGGED:
Share This Article