Shulou(Shulou.com)11/24 Report--

Thank CTOnews.com netizens soft media Xinyou 1933769 for the clue delivery! CTOnews.com October 19 news, the United States video streaming service provider Netflix today announced the company's fiscal year 2023 third quarter results. The company reported third-quarter revenue of $8.542 billion, up 7.8% from $7.926 billion in the same period last year; net profit of $1.677 billion, up 20% from $1.398 billion in the same period last year; and earnings per share of $3.73, compared with $3.10 in the same period last year.

At the same time as the quarterly results were released, Netflix announced price increases for both packages. The price of the basic package (cancelled, only for regular subscribers) has risen from $10 to $12, while the price of the premium package (which supports 4K) has risen from $20 to $23 (CTOnews.com Note: currently about RMB168).

The prices of the ad-supported and standard packages remain unchanged at $7 and $15.49, respectively, Netflix said. CTOnews.com noted that the last price increase for Netflix was in early 2022.

"when we launched the pay sharing feature, we basically suspended the price increase, but our overall strategy has not changed-we offer a series of prices and packages to meet different needs, as we provide more value to our members. We occasionally ask them to pay a little more." "our starting price is very competitive with other streaming media," Netflix wrote in the financial report. "for example, in the United States, the monthly price of $6.99 is much lower than the average price of a movie ticket."

Netflix's move to restrict password sharing appears to have paid off, with the number of paid members growing to 247.15 million in the third quarter, up 10 per cent from a year earlier. The net increase in paying members in the third quarter was 8.76 million, the biggest increase in the past year. In addition, Netflix's advertising-supported package appears to have made the expected start, accounting for 30 per cent of all newly signed-up users in the countries that offer it.

Netflix changed its strategy in the face of increased competition and adjustments after the peak of the epidemic. In addition to raising prices, launching ad-supported versions and cracking down on password sharing, the streaming service has even taken a strange step into retailing.

Netflix is not the only company that has raised prices. Disney+, Hulu and Max have all raised prices in the past 12 months, and Xbox Game Pass, PlayStation Plus, Spotify, YouTube Premium and Apple Music have all raised subscription fees in the past year.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.