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Netflix raises prices again after strong subscriber growth

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Netflix reported third-quarter earnings and is doing well. Revenue increased as the company added 9 million subscribers worldwide.

Netflix is also using this opportunity to raise the prices of some of its U.S., U.K., and French plans to differentiate ad-free plans from its entry-level ad-supported plan. New subscribers to the most expensive plan will pay $22.99 per month.

Let’s step back and examine Netflix’s current situation. Netflix cracked down on password sharing in its home market and dozens of others in May. The third quarter is the first full quarter under the new rules, so we can see the effect of password sharing.

The company removed the basic tier in the U.S. and U.K. two months ago to simplify its offering. People must pay a lot to remove Netflix ads.

Reports suggest that many customers are experiencing subscription fatigue and considering canceling some streaming subscriptions, but Netflix still has room for growth, especially with advertising revenue.

The company has 247.15 million subscribers. The number of subscribers increased 8.76 million this quarter. Netflix subscribers haven’t grown that much since Q2 2020, when Covid lockdowns were enforced worldwide.

Netflix earned $3.73 per share on $8.5 billion in revenue this quarter. As ads plan subscribers rise almost 70% quarter-over-quarter, ads are contributing more to the bottom line. Nearly a third of new subscribers use ads.

Netflix shares are up 13.75% pre-market ($393.79 per share) on good news for shareholders. However, subscribers will be unhappy because the company will raise prices for some plans again in three key markets. Full breakdown here.

In the U.S.:

  • Standard with ads: $6.99 per month (no change)
  • Basic (no longer available): $11.99 per month (up from $9.99)
  • Standard: $15.49 per month (no change)
  • Premium (with 4K streaming): $22.99 per month (up from $19.99)

In the U.K.:

  • Standard with ads: £4.99 per month (no change)
  • Basic (no longer available): £7.99 per month (up from £6.99)
  • Standard: £10.99 per month (no change)
  • Premium (with 4K streaming): £17.99 per month (up from £15.99)

In France:

  • Standard with ads: €5.99 per month (no change)
  • Basic (still available in France for now): €10.99 per month (up from €8.99)
  • Standard: €13.49 per month (no change)
  • Premium (with 4K streaming): €19.99 per month (up from €17.99)

New subscriptions start at these prices today. Bills for existing subscribers will rise in the coming weeks.

As Editor here at GeekReply, I'm a big fan of all things Geeky. Most of my contributions to the site are technology related, but I'm also a big fan of video games. My genres of choice include RPGs, MMOs, Grand Strategy, and Simulation. If I'm not chasing after the latest gear on my MMO of choice, I'm here at GeekReply reporting on the latest in Geek culture.

Gaming

As Disney Speedstorm Ends, Arendelle Hits PS5, PS4

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Disney Speedstorm, Gameloft’s free-to-play kart racer, will enter its latest season with a wintery backdrop of Arendelle. Let It Go will add Anna, Elsa, Olaf, Kristoff, and Hans as racers. As always, they’ll have unique moves and abilities.

Oaken and other musical movie crew members will be unlocked, along with a new Golden Pass. After fan feedback, the developer is rebalancing this aspect of the release so you can progress faster and unlock more rewards.

The developer also announced on Twitter that it’s lowering in-game shop prices starting today, and if you’ve paid for microtransactions, you’ll get a big payout. The French studio appears to be betting on this season’s success.

Adding non-Frozen characters Oswald, Ortensia, and WALL-E could also help. A comprehensive game update should bring back lapsed players and attract new ones. Will you challenge the kart racer?

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Gaming

New Destiny 2 Microtransaction Is Bad Bungie Removed It from PS5, PS4

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Bungie has pulled a contentious $15 starter pack from Season of the Wish, which launched yesterday. The pack had a poor selection and was marketed to new players, which the community strongly opposed.

The starter pack proudly stated that players could “experience the power of build-defining Exotic weapons by instantly unlocking three of Destiny 2’s finest: Traveler’s Chosen, Ruinous Effigy, and Sleeper Simulant.” An exotic ship, a sparrow, a ghost shell, 125,000 glimmer, 50 enhancement cores, five enhancement prisms, and one ascendant shard are also included.

This offering may seem harmless to a new player, but Forbes’ Paul Tassi says, “You sort of have to be a Destiny 2 player to understand what an outrageously bad deal this is.” The Forsaken Pack, another Bungie release, includes two dozen Exotics, a dungeon, and a raid. It cost $20 and is now $5. It looks bad, from what we can tell.

Guardians retaliated with negative Steam reviews. They orchestrated the DLC page to include “Capitalism,” “Crime,” and “Psychological Horror” user tags, which is funny.

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After Bungie pulled the pack, Redditor Grizz3d summarized the community response: “I don’t get how that starter pack was approved. What part of stealing from new players wasn’t going to result in community outrage? Bungie’s disconnect with players is shocking. I’m glad you got rid of the pack, but it’s disappointing that Bungie thought it was a good idea.”

This follows the Witcher 3 crossover armour sets, which look great but are expensive. Sony’s independent live service outpost is in danger due to a delayed expansion and studio layoffs.

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Gaming

PlayStation planted over 500,000 trees last year

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Sony announced last year that it would plant trees for Horizon Forbidden West PlayStation fans who unlocked a simple trophy in the open-world game. This, in partnership with several charities, sought to protect the global environment and biodiversity.

Over a year later, it released a trailer showing its progress. The company has planted 600,000 trees worldwide, restoring 1,800 acres. More importantly, the gaming industry has planted 2.5 million trees worldwide.

Gaming is fun, but we must protect our world. Sony has taken steps to be more environmentally friendly, such as adding energy-saving features to the PS5 and shipping all its products in fully recyclable packaging.

 

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