1706201198
According to the company’s new earnings report, Netflix exceeded Wall Street forecasts in the final months of 2023, adding 13.1 million new subscriptions in the most recent quarter.
It was the best three-month figure since the Covid-19 pandemic began in 2020 and the total number of Netflix subscribers worldwide now stands at 260.3 million.
“The latest results once again confirm that Netflix is the undisputed king of all streamers,” said Paolo Pescatore, analyst and founder of PP Foresight. “Despite last year’s artist strike, which is unlikely to impact this streamer.”
In addition to protests in Hollywood last year that put actors and screenwriters out of work for months, some shareholders were also concerned about the impact of Netflix’s password sharing restrictions. In response to subscriber loss in 2022, the streaming giant began limiting account sharing in mid-2023, a strategy that initially drew the public’s ire.
Netflix is pleased that restricting password sharing has paid off after all. “We believe we have successfully solved the account sharing issue by ensuring that people who enjoy Netflix also pay for the service,” the company said in a letter to shareholders.
Last year, the streaming giant halted price increases while implementing its anti-sharing strategy, but there are no plans to freeze price increases further.
Greg Peters, one of the CEOs, explained: “We largely put price increases on hold during the introduction of toll sharing because we viewed them as a substitute for price increases. Now that we’ve done that, we can go back to our standard approach to pricing.” increases.”
#streaming #giant #Netflix #increase #prices