Announced earlierFiscal Year 2023 Third Quarter Financial ReportAt the same time, Netflix announced that it would raise subscription prices again, including slight increases in basic and premium subscription plans in the United States, the United Kingdom and European markets, but the pricing of basic and standard plans that use advertising to support playback costs remained unchanged.
Netflix has not yet adjusted its subscription plan for the Asian market, but it is expected to make adjustments based on market conditions in the future.
In this adjustment, the basic subscription plan in the United States increased from US$9.99 per month to US$11.99, while the premium subscription plan increased from US$19.99 per month to US$22.99. As for the basic plan and standard plan that use advertising to support playback costs, the pricing has not been adjusted and remains at US$6.99 and US$15.49 per month.
As for the price adjustments for subscription plans in the UK and European markets, the basic and standard plans that use advertising to support playback costs remain unchanged, and the main adjustments are made to the pricing of basic and premium subscription plans.
In the UK, the Basic plan is now priced at £7.99 per month, while the Premium plan is now priced at £17.99. The ad-supported Basic and Standard plans remain at £4.99 and £10.99 per month, respectively. In Europe, the Basic plan is now priced at €10.99 per month, while the Premium plan is priced at €19.99. The ad-supported Basic and Standard plans remain at €5.99 and €13.49 per month, respectively.
Netflix emphasized that the current subscription plan pricing is still competitive with other streaming video services, and also explained that the pricing adjustment was mainly to meet the needs of content production costs and other demands.
In the financial report released this time, Netflix's profit reached $85.52 billion, a 7.8% increase over the same period last year, while revenue reached $19.16 billion and net profit was $16.77 billion.Reduce account sharing, and after attracting users to add additional paid accounts at relatively low prices, Netflix's current number of paid users in the world has increased to 2 million, an increase of 4715% over the same period last year and a total increase of 10.8 million over the previous quarter.
For the upcoming fourth-quarter financial report, Netflix predicts that its profit will reach US$86.92 billion, a 10.7% increase compared to the same period last year, but its revenue may decrease to US$11.6 billion and its net profit may be lowered to US$9.56 million. This may be related to the increase in expenses to be paid at the end of the year. As for the growth in the number of paying users, it may be similar to that in the third quarter.
Netflix also cited Nielsen market research data, showing that streaming still dominates the current content viewing market, accounting for approximately 37.5%. Traditional broadcast programming accounts for 23%, cable programming accounts for 29.8%, and other content formats account for approximately 9.6%. Among all streaming services, Netflix accounts for 7.8%. YouTube still has the highest usage share, accounting for approximately 9%, followed by other streaming services combined at 5%. Amazon Prime Video and Hulu each account for 3.6%, while Disney+ accounts for only 1.9%.
