Netflix has begun increasing prices in certain countries as the boost in growth from its crackdown on password sharing starts to diminish.
The company informed investors on Thursday that it was working to enhance our monetisation by adjusting our plans and pricing. In the past month, it had already raised prices in Japan and some parts of Europe, the Middle East , and Africa. The price hikes in Italy and Spain will commence this week.
This update coincided with the streaming giant reporting a net addition of 5.1 million subscribers over the three months ending in September - the smallest increase in over a year.
Netflix is facing pressure to demonstrate to investors what will fuel growth in the coming years, given that acquiring new subscribers is becoming more challenging due to its already extensive reach.
The last time the company observed signs of a slowdown was in 2022 when it launched a crackdown on password sharing and announced its intention to introduce a new streaming option with advertisements. This action sparked a fresh wave of growth.
