30, it gained about 940,000 in UCAN to stand at 74.0 million (+1.3% year over year) compared with a net add of 18.1 million worldwide (+9.4% YoY). Netflix ( NFLX) reported a surge in third quarter subscriber numbers of nearly 9 million and announced it will be raising prices in the US, UK, and France, sending its stock higher in after-hours. In the third quarter of 2021, Netflix netted just 70,000 streaming subscribers in the U.S. The higher rates come as the company has seen its subscriber growth slow down significantly in its UCAN (U.S. and Canadian customers since October 2020, and the third increase in the last three years for Netflix’s standard HD plan - which at $15.49/month is now more than the regular HBO Max no-ads tier at $14.99/month. The stock has dropped 13% over the last month amid investor concern over intensifying competition in the streaming wars. Netflix’s stock rose more than 3% on news of the price increases, before closing for the day +1.25% to $525.69/share. As always we offer a range of plans so members can pick a price that works for their budget.” The spokesperson added, “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix rep said in a statement, using the same language the last time the streamer raised prices. In Canada, the Basic plan remained unchanged at $9.99 (CAD)/month. “As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements, which in turn helps drive the positive flywheel of additional investment to further improve and grow our service,” the letter noted.The company also increased prices in Canada, where the Standard package increased by $1.50 (CAD), rising to $16.49 (CAD), and the Premium plan went up by $2 (CAD) to $20.99 (CAD)/month. In its letter to shareholders, Netflix leaders also signaled the potential for price hikes. The deal is Netflix’s biggest commitment to live programming to date and will feature 52 weeks of live shows each year. Netflix’s advertising team, led by Amy Reinhard, will have a lot more inventory to offer up in 2025, when it becomes the home of the WWE’s flagship program, Monday Night Raw. (Netflix stopped offering the Basic tier for new subscribers late last year.) in the spring “and tak it from there,” the company says in its letter to shareholders. It will retire the plan - currently the least expensive ad-free option at Netflix - for all subscribers in Canada and the U.K. With the growth in the ad tier, the company repeated its plans to phase out its Basic membership tier in the coming months. The free promotion converts to the ad tier after a set time, and Peters said the lower price of the ad tier can make the economics work better for both Netflix and its partners. Peters also noted that promotional bundles, à la wireless provider T-Mobile’s “Netflix on Us” deal, can help drive subscriber growth. “But it’s fair to say there’s a lot of room for growth in all the markets we’re in.” “Every market is different - there’s not a magic MAU number,” Peters said. While acknowledging that it will take years to make advertising “a material impacter to our general business,” he likes the current trajectory the business is taking. Gillian Anderson Pursues Prince Andrew Interview in 'Scoop' TeaserĬo-CEO Greg Peters said on the company’s earnings call that the ad tier has 23 million monthly active users in the 12 countries where it offers the plans, and he expects that number to continue growing.
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