Netflix hikes prices in some countries as growth fades

Published On Oct 17, 2024, 5:03 PM

Netflix is raising prices in several countries as subscriber growth slows. The company recently added 5.1 million subscribers in the last quarter, the least in over a year. Despite the price increases, Netflix reported a 15% revenue increase year-over-year, totaling over $9.8 billion, with over $2.3 billion in profit. Analysts believe that continued fresh content and the growth of ad-supported plans will be crucial for Netflix's future growth and for justifying price hikes to retain subscribers.

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Netflix's strategy of raising prices combined with the introduction of ad-supported plans could stabilize its revenue, particularly as they innovate to create valuable content. The current slowing growth can be partly mitigated by these measures. However, customer retention could be challenged if perceived value decreases due to higher prices without sufficient new content.

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