Netflix Raises Prices Again

Netflix announced in its third-quarter earnings report that it would increase the price of its premium ad-free plan in the US by $3 per month, making it $22.99, starting on Wednesday.

Netflix reported 247 million paid global subscribers in the third quarter.

The one-stream basic plan in the US will also see a price increase, rising to $11.99. However, all other plans, including the entry-level ad-supported tier at $6.99 per month, will maintain their current monthly cost. Samantha Delouya reported this for CNN.

Netflix also revealed price increases for certain subscription tiers in the United Kingdom and France.

The company reported a 9% year-over-year increase in average paid memberships, adding 8.8 million subscribers in the last quarter, compared to 2.4 million in the third quarter of the previous year.

In total, Netflix reported 247 million paid global subscribers in the third quarter.

Netflix attributed some of its strong subscriber growth to its continued efforts to prevent password-sharing. Netflix noted that it has officially launched its "paid sharing" program in all regions where it operates, and fewer customers than expected canceled their memberships as a result.

Instead, many customers who previously shared passwords with others have converted into full-paying subscribers, according to Netflix. This was also reported by David Goldman for CNN.

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