Netflix Raises Prices as Password Boost Fade – Slashdot

Netflix has started raising prices in several countries, including Japan, parts of Europe and Africa, as it looks to maintain growth following a crackdown on password sharing. While its recent financial results show strong revenue growth, the company faces challenges in finding new customers and aims for future growth through advertising and new content. The BBC reported: In its latest results, Netflix announced that it added 5.1 million subscribers between July and September – ahead of forecasts but the smallest gain in more than a year. The company is under pressure to show investors what strength it will grow in the years ahead, as its already vast reach makes it harder to find new customers. The last time Netflix showed signs of slowing down, in 2022, it introduced measures to stop password sharing and said it would offer a new streaming option with ads.

The crackdown brings a new wave of growth. The firm has added more than 45 million new members since last year and has 282 million customers worldwide. Analysts also expect ads to eventually become big business for Netflix. For now, however, Netflix said it remains “early days” and warned that it doesn't expect to start driving growth until next year, even though many customers have opted for ad-supported plans. The plan, which is the company's least expensive option, accounted for 50% of new sign-ups where it was offered in a recent quarter, Netflix said. Even without the boost from advertising, Netflix said revenue in the July-September period rose 15% to more than $9.8 billion over the same period last year. Profits also rose to $2.3 billion from $1.6 billion in the same period last year.