STREAMING firm Netflix is hiking the price of some of its UK subscriptions. The basic subscription will climb £1 from £6.99 a month to £7.99 while premium will rise £2 from £15.99 to £17.99. The co…
cracked down on password sharingIt was the company’s best quarter in terms of customer additions since 2020 when pandemic lockdowns sparked a surge in demand.
Netflix last raised its prices in March 2022. Its quarterly revenue was up 7.8 per cent year-on-year at £7billion. Meanwhile its profits hit £1.37billion. The news was welcomed by the market which sent the company’s shares soaring 16 per cent in early trading on Wall Street last night. Boss Mark Schneider said: “Growth was driven by pricing as we continued to navigate historic inflation levels.”
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