Netflix recently released its third-quarter earnings report, surpassing Wall Street predictions for both subscriber growth and revenue. With revenue reaching $9.825 billion and 5.1 million new subscribers added, the streaming giant continues to outperform expectations.
In a nod to subscriber satisfaction, the report highlighted a boost in member engagement, with users spending an average of two hours per day on the platform. This positive trend indicates a strong connection between Netflix and its audience.
Price Hike on the Horizon?
Despite the impressive earnings report, rumors of a potential price increase loom. Following price hikes in Spain and Italy, analysts speculate that U.S. users may also face higher subscription costs in the near future.
Currently, Netflix offers various plans ranging from $6.99 per month for a standard plan with ads to $22.99 per month for a premium plan with multiple device support. As the company continues to invest in high-quality content and technology, a price adjustment could be on the horizon.
Related: Stay up-to-date with the latest changes in Netflix’s employee culture and hiring practices to align with the company’s evolving vision and values.