Netflix Revenue Rises To $10.5 Billion Following Price Hike

Netflix's Q1 revenue rose to $10.5 billion, a 13% increase from last year, while net income grew to $2.9 billion. The company says it expects more growth in the coming months when it sees "the full quarter benefit from recent price changes and continued growth in membership and advertising revenue." The Verge reports: Netflix raised the prices across most of its plans in January, with its premium plan hitting $24.99 per month. It also increased the price of its Extra Member option -- its solution to password sharing -- to $8.99 per month. Though Netflix already rolled out the increase in the US, UK, and Argentina, the streamer now plans to do the same in France. This is the first quarter that Netflix didn't reveal how many subscribers it gained or lost. It decided to only report "major subscriber milestones" last year, as other streams of revenue continue to grow, like advertising, continue to grow. Netflix last reported having 300 million global subscribers in January.

During an earnings call on Thursday, Netflix co-CEO Greg Peters said the company expects to "roughly double" advertising revenue in 2025. The company launched its own advertising technology platform earlier this month. There are some changes coming to Netflix, too, as Peters confirmed that its homepage redesign for its TV app will roll out "later this year." He also hinted at adding an "interactive" search feature using "generative technologies," which sounds a lot like the AI feature Bloomberg reported on last week. Further reading: Netflix CEO Counters Cameron's AI Cost-Cutting Vision: 'Make Movies 10% Better'

I'm still sharing it

[rsilvergun]

Which is the only reason I still have it. Every now and then I have to log in and get a code but Netflix doesn't enforce the no sharing policy if you're not a binge watcher.

At least that's what I assume is going on. While I share the login I don't think anyone is using it all the damn time and my guess is they've worked out that I'd be willing to cancel it if they enforced no sharing because of that.

Re:

[registrations_suck]

I don't understand where people find the time to watch 4 hours of TV per day, let alone 9.

I mean, I guess unemployed people have the time, but what about everyone else? Don't they have SHIT TO DO?!

Re:

[PleaseThink]

I used to be one of those people. Go to work, go home, crash in front of the TV. Wash clothes and pay your bills over the weekend. Was renting so there was little else needed to be done. Frankly it was hard to do anything else since I was depressed and had little energy. Granted I got to watch a lot of obscure sci-fi like Blake's 7 and Lexx. But now that I'm older, what a waste of time. They add very little to your life.

And they will keep raising prices

[sirket]

Basic economics- if the profit you generate from price hikes outweighs the money you lose from customers canceling- you keep raising prices.

And on this news Netflix will continue to raise prices- which is why I canceled my service when they announced their most recent hike. Not enough good content, they kept canceling the few good things they did have, and I simply wasn't getting value out of it.

Not to mention that the arr's have made it easy to live without Netflix in the first place.

raise price, lose customer, refuse to report

[ihavesaxwithcollies]

This is the first quarter that Netflix didn't reveal how many subscribers it gained or lost. It decided to only report "major subscriber milestones" last year

That's because they lost customers and will continue to do so, but can't have the truth affect the stock price.

Just out of curiosity, how does one pay for advertising, if they don't know how many customers you have?

This article lionizes capitalism

[denelson83]

We need fewer articles like this on Slashdot. We should not be heaping praise on efforts to concentrate wealth like this article does.

Re:

[groobly]

To rent is human, torrent divine?

Oh, right, thanks for reminding me

[clambake]

to cancel