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"Dream - Although it has only been implemented in the United States since Wednesday, October 18, 2023, Netflix streaming customers are ready to dig deeper into their pockets. Netflix announced that its premium ad-free package in Uncle Sam's land, the United States (US), has increased by US$3 or around Rp47,000 with an exchange rate of Rp15,850 per US dollar."
With the increase, the subscription rate for Netflix customers in the US becomes US$22.99 or around Rp364 thousand per month. For the basic package, the rate increases to US$11.99. Meanwhile, the entry-level package with ads will remain at the same cost of US$6.99 per month. Netflix also announced price increases for several subscription levels in the UK and France. Until now, these new rate provisions have only been implemented in the US. Meanwhile, Indonesian customers have not received further information about the adjustment of subscription rates.
According to CNN, in Netflix's third-quarter earnings report, there was a year-over-year average paid membership increase of 9 percent, with the addition of 8.8 million subscribers in the last quarter. This number is significantly higher compared to the third quarter of last year, which had only 2.4 million subscribers. Overall, Netflix reported 247 million global paid subscribers in the third quarter.
The following is the translation of the 'Bahasa' text to 'English' while preserving any html tags: "This company is reported to have generated revenue of US$8.54 billion in the last quarter. The revenue was driven by higher-than-expected membership growth."
While earnings per share for this quarter reached US$3.73. Netflix shares surged 12 percent in after-hours trading.
Netflix last raised subscription prices in January 2022, but other streaming competitors also followed suit in raising prices.
"Like Disney+ in August, raising its price by US$3 per month, for the second time this year. The company also increased the prices of Hulu and Max, owned by the parent company CNN, Warner Bros. As for Discovery, it raised its price for the first time in January 2023 by US$1 per month."
In a letter to shareholders, Netflix referred to the past six months as a period full of "challenges" due to the writers' union strike and actors' union strike this summer.
In the third-quarter earnings call of Netflix, Ted Sarandos, co-CEO of the company, stated that the company is "fully committed" to ending the actors' strike after reaching an agreement with the writers' union last month.
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