Netflix announced its financial results for the second quarter of 2024. The company revealed it added over 8 million new subscribers worldwide for its streaming service, blowing away expectations.
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Online reports from Netflix users in Canada and the UK claim that the streaming service is making people who subscribe to its cheapest ad-free plan switch to another plan to remain on the service.
Netflix is reportedly in internal discussions about offering a free ad-based plan sometime in the future. However, it may only offer this plan in parts of Europe and Asia, not in the US.
Netflix has revealed that its cheapest ad-based subscription plan for its streaming service has seen its numbers go way up from 23 million in January 2024 to 40 million subscribers today.
Netflix has reportedly reorganized its film division, separating films by genre and laying off some staff. The company is working to focus its creative efforts and cut costs amid economic uncertainty.
Netflix announced that the premium streaming service had added a huge 13.12 million new subscribers in the final quarter of 2023, for a total of 260.8 million paid subscribers worldwide.
Netflix has announced it will soon give people who subscribe to its ad-based plan a way to download its content for offline use. It will also offer some ad-free episodes for binge-watchers.
Netflix will be raising prices once again on both its Basic and Premium plans in the US. The basic plan will go up to $11.99 a month and the Premium plan will now be $22.99 a month
A new report claims Netflix could raise prices on its ad-free plans in the near future. The report claims that those price increases will come a few months after the Hollywood actors strike ends
Part of the reason for the spending cuts was that Netflix delayed its controversial password-sharing fees from the first to the second quarter of 2023, and it still has not revealed a specific date.
Netflix says a broad rollout of its account-sharing fees will begin sometime in Q2 2023 in the US and other markets. It will also boost the video resolution for its ad-based subscription plan.
These international Netflix price cuts vary from country to country but in some cases, the subscription costs for the video streaming service have been cut by almost half the previous price.
If you've been a loyal Netflix subscriber, you might want to keep an eye on your account so as not be surprised by the upcoming price hike, one that the company keeps reminding everyone about.
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