TUDUM: Netflix announces more expensive prices coming this week after reporting 9 million new subscribers and $8.5 billion in revenue.
Netflix is finally trying to make some money. After roughly a decade of producing Gray Mans and Red Notices for hundreds of millions of dollars without charging people to see them in movie theaters, the streaming giant finally realized that if it charged consumers more money, it could recoup some of its investment. As such, starting Wednesday, Netflix subscribers in the U.S., U.K., and France will see price increases.
Strangely, the increase comes after the company reported $8.5 billion in revenue, with an income of $1.9 billion, and that’s during two simultaneous strikes, one of which they still can’t find the money to settle. Netflix also reports that their password crackdown, which probably led to such a profitable quarter, was largely a huge success. The company says it added 5.9 million subscribers in the last quarter.
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