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Netflix is ​​gaining customers and allowing itself to increase prices

Netflix is ​​gaining customers and allowing itself to increase prices

247.15 million people pay for a Netflix subscription. And in the United States and Great Britain, they will soon have to dig deeper into their pockets.

One man’s suffering and another man’s joy. British Netflix customers are threatening to cancel their subscriptions permanently on social media after the streaming provider announced it would increase subscription prices – initially in the USA, Great Britain and France. In the USA, the most expensive subscription will now cost $22.99 instead of $19.99. Other tariffs will also be increased, and only the version with ads will continue to cost $6.99.

In recent months, Netflix has taken action around the world against account sharing, a practice by which multiple households watch Netflix with a shared password. The question was whether this would turn away more paying customers than it would attract. The answer is now available: In the past quarter, Netflix increased its customer base by 8.76 million to 247.15 million. There has not been such a strong increase for several quarters. The share increased by twelve percent after the third quarter numbers were announced.

Strong increase in sales and profits

The numbers were also impressive in other ways: Sales rose from $7.9 billion a year ago to $8.5 billion. Net profit increased from $1.4 billion to $1.7 billion. In the fourth quarter, Netflix expects revenue to increase to $8.7 billion.

The company presented a survey conducted by Nielsen, according to which, among streaming providers, Google’s YouTube is used more frequently than Netflix in the USA. Amazon’s Prime, Hulu and Disney follow closely behind. Netflix is ​​one of the few companies where streaming doesn’t result in a loss. However, Amazon does not deal with streaming anyway, but with cloud offerings for the Internet and online trading. The streaming offer is just a treat for Prime customers. Disney also has a broader base. In the streaming space (Disney+), competitor Netflix has recently faced a decline in customers.

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