Netflix Doesn't Plan Any Price Hikes in Major Markets for More Than a Year After Paid-Sharing Rollout
is “more than a year out” from any price increases in its major markets like the U.S. as it looks to spur revenue growth from its password-sharing crackdown, CFO Spence Neumann said.
The streamer has “largely paused” price hikes after it began rolling out the paid-sharing program starting in May 2023, Neumann said on the Q2 earnings interview. “Most of our revenue growth this year is from growth in volume, through new paid memberships. And that’s largely driven by our paid-sharing rollout,” he said. “It is our primary revenue accelerator in the year.”, under which its Standard plan — its most popular tier, which provides two simultaneous HD streams — increased by $1.
Netflix didn’t quantify how much of the subscriber gains were due to the password-sharing crackdown, but that it is “seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature,” it said in the Q2 letter to shareholders.
or pay for their own subscription — otherwise, the company will begin to block access to unauthorized devices. In the U.S., an extra member add-on is $7.99/month on top of the cost of a Standard or Premium plan. Starting Wednesday , Netflix said, it will “start to address account sharing between households in almost all of our remaining countries.” In those remaining markets, the streamer is not offering an extra member option “given that we’ve recently cut prices in a good number of these countries and penetration is still relatively low in many of them so we have plenty of runway without creating additional complexity.
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