Netflix has recently released its latest earnings report, and while it’s not normally something that the average person would go through, there were two bits of info that would interest non-investors. One is the streaming platform announcing having 302 million subscribers. The second, and probably the more important one, is that subscription prices are going up for certain markets.
Going through the first point first, the earnings report noted an increase of 19 million subscribers over the past few months. This can be attributed to Netflix originals like Squid Game 2, as well as sports content being added to its content library.
Despite this though, Netflix also announces price hikes for four markets, specifically, the US, Canada, Argentina and Portugal. A spokesperson tells The Verge that the starting tier with ads is going from US$6.99 (~RM31) to US$7.99 (~RM36) a month, effective from each subscriber’s next billing cycle. Then the standard ad-free tier moving from US$15.49 (~RM69) to US$17.99 (~RM80) a month, and the top premium tier from US$22.99 (~RM102) to US$24.99 (~RM111).
For what it’s worth, Netflix Malaysia’s subscription prices last went up in November of last year, with the changes affecting bundles it is included in such as with Astro and Unifi. It’s unclear for now if the local market will get hit by another price hike so soon after the last.
(Source: Netflix [PDF], The Verge)
Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news.
