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Netflix Phases Out $11.99 Basic Plan: New Subscription Options ...
2024-07-19 19:55:08
Business
Entertainment
Tech

Netflix Phases Out $11.99 Basic Plan: New Subscription Options Revealed

Netflix discontinues its $11.99 ad-free plan, introducing $6.99 ad-supported, $15.49 standard HD, and $22.99 premium Ultra HD plans. With 8 million new subscribers in Q2 2024 and revenue growth, Netflix plans to debut video games and focus on ad-supported models for better user experience.

The shift responds to the surge in ad-supported sign-ups due to password-sharing controls. Netflix aims for critical ad subscriber mass by 2025 for revenue growth, as competition like Disney+ and others loom.

Microsoft's post-merger price actions face FTC scrutiny, highlighting concerns over consumer impact, contrasting Netflix's strategic shifts.

Related news on that topic:

Netflix Beats Subscriber Targets and Cautions on Next Quarter

Netflix surpassed subscriber targets in Q2 with 8M new sign-ups, boosted by password-sharing crackdown. Q3 subscriber gains may dip due to crackdown timing. Revenue for the quarter hit $9.56B, in line with predictions. Ad-supported tier growth and new bundles like Comcast's 'StreamSaver' bolstered revenue outlook. Investors closely watch Netflix's progress in transitioning to an ad-supported model and expanding its live programming offerings. Netflix's stock price has risen 33.5% year-to-date, nearing its all-time high of $697.49. Ad-supported subscriptions grew by 34%. Netflix expects advertising subscriptions to increase in 2025, contributing meaningfully to revenue. In Turkey, the cheapest subscription is priced at 149.99 TL, while the most expensive is 300 TL. Overall growth in 2024 is expected to be between 14-15%.

Netflix gains eight million new subscribers

Netflix has gained eight million new subscribers in the second quarter, surpassing expectations. The company now has a total of 277.7 million subscribers. Netflix also exceeded Wall Street's revenue expectations, reaching $9.56 billion. Additionally, the company reported a net profit of $2.15 billion. This growth comes as Netflix continues to crack down on password sharing, and it has seen increases in previous quarters as well. The streaming service plans to release new games, stream NFL games on Christmas 2024, redesign its interface, and provide more information about its content. The $6.99 monthly ad-supported service is responsible for four million of the new accounts. Netflix has also experienced notable growth in the Asia-Pacific region, adding 2.8 million new accounts, and closed the first half of the year with 17 million new accounts, its best first half since 2020.

Read 1 more recent news on this topic

The press radar on this topic:

Yahoo News
18. Juli 2024 um 22:29

Netflix is ending basic $11.99 plan with no ads: Here's which subscription plans remain

Economy
Technology
Netflix is phasing out its $11.99 basic ad-free plan in the U.S. and France. New plans include $6.99 ad-supported, $15.49 standard HD, and $22.99 premium Ultra HD. Netflix added over 8 million subscribers in Q2 2024, reaching 277.6 million total, due to returning shows and a password-sharing crackdown. The company reported 16.8% revenue growth in Q2 2024 but forecasts lower subscriber additions in Q3 2024. Netflix will launch monthly video game releases, including one based on "Emily in Paris"..
The Street
27. Juli 2024 um 11:46

Netflix users are losing one of its cheaper options TheStreet Daily Newsletter

Economy
Finance
Technology
Netflix is discontinuing its $11.99 ad-free streaming plan; customers can now choose between ad-free Standard ($15.49/month) or Premium ($22.99/month) plans, or a new ad-supported plan ($7/month); Netflix's crackdown on password sharing has led to a surge in sign-ups for the cheaper ad-supported option; major tech firms like Alphabet, Microsoft, and Amazon are set to report earnings next week, while economic data on Q2 GDP will also be released; Netflix's total subscriber numbers at nearly 278..
New York Times - Business
19. Juli 2024 um 13:54

Netflix Adds 8 Million Subscribers

Economy
Technology
Netflix's earnings report revealed that the streaming company gained 8 million subscribers, now totaling 278 million globally. Notable content contributing to its success includes 'Bridgerton' season 3 and 'Baby Reindeer,' which garnered 11 Emmy nominations. Additionally, Netflix's revenue reached $9.5 billion, marking a 17 percent rise from the previous year. The company also expanded its offerings to include a $6.99 ad-supported service in 12 countries, with this tier capturing over 45% of new..
Inc.com
19. Juli 2024 um 17:25

FTC Says Microsoft's Game Pass Price Hikes Hurt Subscribers

Economy
Technology
Finance
FTC appeals Microsoft-Activision merger after losing lawsuit, citing Microsoft's post-merger price hikes, service downgrades, reduced investments harming output and quality as "exactly" the "consumer harm" it worried about. Netflix phases out cheapest ad-free plan, aims for critical ad subscriber scale by 2025 to boost revenue.
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