Netflix Inc. is raising prices for some customers in the US, UK and France after posting its best quarter for subscriber growth in years, a sign of management’s confidence in the future even as rival streaming services lose money.
The world’s top paid-streaming service said Wednesday it added 8.76 million customers in the third quarter, far exceeding analysts’ forecasts and boosting its overall subscriber base to 247.2 million. The company credited a strong programming slate and its crackdown on password sharing.
Investors have worried that Netflix might lose customers if it forced people who were sharing accounts to buy their own subscriptions. But the crackdown has led to a surge in new customers without a major increase in cancellations. Netflix is now on track to add more than 20 million customers this year, a big jump from fewer than 9 million in 2022.
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