Netflix’s global crackdown on password sharing is working, gaining 8.8 million new subscribers over the last three months.
The streaming media giant has also announced plans to increase subscription prices as part of its latest quarterly results announcement.
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The number of new subscribers has significantly increased from the 2.4 million added during the same quarter last year.
This growth comes as Hollywood actors and writers experienced a strike that threatened to impact the release of new shows.
In response to these positive results, Netflix is raising prices for its subscriptions.
In the United States, the cost of a basic Netflix subscription will increase by $2 to $11.99, while premium subscriptions will see a $3 hike to $22.99.
In the United Kingdom, basic subscriptions will rise by £1 to £7.99, with premium memberships increasing by £2 to £17.99.
In Australia, the price will remain unchanged, but the basic tier, which is currently priced at $10.99 will no longer be offered to new and returning subscribers.
The platform has encouraged audiences to opt for the more expensive “standard” tire.
The basic tier will also be phased out for new subscribers in Germany, Spain, Japan, Mexico, and Brazil. It has already been phased out in the US, UK, Italy, and Canada.
“We remain very optimistic about our long-run opportunity in this very big market.”
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