Netflix Price Increasing Again Thanks To One Emerging Strategy
Netflix (NFLX) reported its Q3 earnings after the closing bell on Wednesday, October 18th.
The streaming company is still navigating its transformation from focusing on subscriber growth to prioritizing profit over expansion, using price hikes, password crackdowns and ad-supported tiers to boost revenue. According to a recent article by Reuters, Netflix may soon be raising its prices due to the massive success of the streamer’s recent campaign to crack down on password sharing. After threatening for years to prevent users from sharing accounts across multiple households with friends and family members, the company finally started putting measures in place to curb password sharing last Spring, to the tune of a six-million subscriber boost.
As the only streaming giant currently touting major profits, Netflix may soon announce another price-hike this week when it comes time to report their third-quarter earnings.
Netflix led the way in ending password sharing, and now the streamer is going to increase the price for all plans. Other streamers, such as Disney+, have followed in Netflix’s footsteps recently by beginning an international crackdown on password sharing in order to recuperate losses. For Netflix, this has meant taking on enough new subscribers to put off increasing their subscription costs, even with most new users signing on to the platform’s cheapest ad-supported tier. The current Netflix price rings in at $15.49 per month for non-ad-supported plans or $6.99 per month with ads.
Eurozone Retail Sales Declined 2.9% YoY in September vs. -3.2% Expected
According to the official data released by Eurostat on Wednesday, November 8, Eurozone’s Retail Sales dropped 0.3% MoM in September as against a 0.7% fall in August.
Fed Holds Interest Rates Steady For Second Meeting In A Row—As Rate Hikes Weigh On Markets
The Federal Reserve again decided to keep interest rates at the same level, the central bank announced Wednesday, though rates remain at their highest level since 2001, causing sweeping effects on the economy.
Bitcoin Readies For Another Jaunt North, Pulls Cathie Wood's ARKK Higher
Bitcoin (BTCUSD) was spiking up over 2% during Wednesday’s, October 25, trading session, and attempting to break above Tuesday’s day high amid increased optimism that a spot Bitcoin ETF will gain SEC approval.