4/25/2024 0 Comments Netflix pricing change![]() Starting Wednesday (July 19), Netflix said, it will “start to address account sharing between households in almost all of our remaining countries.” In those remaining markets, the streamer is not offering an extra member option “given that we’ve recently cut prices in a good number of these countries (for example, Indonesia, Croatia, Kenya and India) and penetration is still relatively low in many of them so we have plenty of runway without creating additional complexity. In the U.S., an extra member add-on is $7.99/month on top of the cost of a Standard or Premium plan. It’s safe to assume it’ll continue doing so, too. and more than 100 other countries that anyone who uses their accounts and lives outside their households will either need to be added as an “extra member” or pay for their own subscription - otherwise, the company will begin to block access to unauthorized devices. When the changes take effect, the only remaining plans are the ad-supported 7/month plan, the standard ad-free plan at 15.50/month, and premium, which adds 4K streaming, spatial audio, offline. At the end of the day, Netflix is cranking up its price by a buck or two every couple of years simply because it can. The streaming media company said Friday it is raising the prices on its plans in the United States and Canada. Netflix has informed customers in the U.S. Your Netflix bill is about to go up again. ![]() ![]() Netflix didn’t quantify how much of the subscriber gains were due to the password-sharing crackdown, but that it is “seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature,” it said in the Q2 letter to shareholders. After the report, Netflix shares were down as the streaming giant’s quarterly revenue of $8.19 billion came in shy of Wall Street’s $8.3 billion consensus expectations. Where Netflix really seems to have fallen down is the way it has handled telling customers about the change, and how abruptly it changed its pricing structure. The company reported Q2 earnings results Wednesday, announcing 5.9 million net new paid subscribers and saying that its broad crackdown on password sharing was yielding more sign-ups than cancelations. Netflix pricing starts at 7 a month, but following a Netflix price hike in October 2023, you now have to pay 23 a month to get the best video quality without ads. Netflix’s Q2 revenue was 8.17 billion, up 2.7 from the same time last year, but missing its own 8.24 billion and analysts’ expectations of 8.29 billion.
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