Netflix Added 8.8 Million Subscribers in Third Quarter As it Announces Premium Plan Price Hike




, , ,

Scene from One Piece.

Netflix added 8.8 million subscribers in the third quarter, more than three times its tally from a year ago, as its password crackdown and ongoing global expansion continued to drive growth.

The earnings results came as the streaming giant said it would raise the price of its premium plan, while also bringing back its basic tier with its own price hike. Despite the shifting landscape of streaming services, Netflix remains the top subscription player by a wide margin. But even it’s beginning to feel the financial pressure hitting all services, as illustrated by the price shift.

A majority of its growth came from the Europe, Middle East and Africa regions, which saw nearly 4 million new additions. United State and Canada contributed to 1.8 million new subscribers.

In total, Netflix said it has 247.2 million subscribers around the world.

The company continued to enjoy growth from its move to crack down on password sharing, forcing users to sign up for their own account, or for family members to upgrade to account for more households. The result has been a financial boon to Netflix, which hasn’t had to raise its prices in more than a year. Its success is spurring other companies, like Disney, to explore its own password-sharing crackdown.

The quarter saw the return of hit shows like The Witcher, Sex Education and The Lincoln Lawyer, as well as the debut of anime adaptation One Piece and limited series DEPP V HEARD. Suits, which is also on Peacock, continues to be a streaming sensation.

The company also ended its division at the end of the third quarter, shuttering the DVD shipping business that first put Netflix on the map.

In total, Netflix posted third quarter earnings of $1.68 billion, or $3.73 a share share, compared with a year-ago profit of $1.4 billion, or $3.10 a share. Revenue also rose 7.8% to $8.54 billion.

Wall Street had expected Netflix to earn $3.49 a share and generate revenue of $8.54 billion, according to data compiled by Yahoo Finance.

The company expects fourth-quarter earnings of $956 million on revenue of $8.7 billion.

Disclaimer: To address the growing use of ad blockers we now use affiliate links to sites like, streaming services, and others. Affiliate links help sites like Cord Cutters News, stay open. Affiliate links cost you nothing but help me support my family. We do not allow paid reviews on this site. As an Amazon Associate I earn from qualifying purchases.

Subscribe to Our Newsletter

* indicates required

Please select all the ways you would like to hear from :

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp’s privacy practices here.