• Latest
  • Trending
Netflix Announces New Content from Mo Abudu, Kunle Afolayan, Kemi Adetiba

Netflix Stocks Rise after Raising Prices for US Customers

October 30, 2020
Russia Welcomes US Proposal to Extend Nuclear Treaty

Russia Welcomes US Proposal to Extend Nuclear Treaty

January 22, 2021
Twin Suicide Bombings Kill At Least 23 in Iraqi Capital Baghdad

Islamic State Claims Responsibility for Twin Suicide Blasts in Baghdad

January 22, 2021
Japan Vaccination Uncertainty Casts Doubts Over Olympics    

Japan Vaccination Uncertainty Casts Doubts Over Olympics  

January 22, 2021
Comedian Dave Chappelle Tests Positive for Covid-19, Shows Canceled

Comedian Dave Chappelle Tests Positive for Covid-19, Shows Canceled

January 22, 2021
Germany’s Covid-19 Death Toll Tops 50,000

Germany’s Covid-19 Death Toll Tops 50,000

January 22, 2021
UN Expresses Concern Over ‘Disturbing Rape Reports in Tigray’

UN Expresses Concern Over ‘Disturbing Rape Reports in Tigray’

January 22, 2021

Nigeria Can Defeat Kidnappings Within Three Months Using Drones, Says Surveillance Expert

January 22, 2021

Nigeria: Former Electoral Commission Boss Jega Calls for Scrap of ‘Unnecessary’ Federal Ministries

January 22, 2021
UN Expresses Concern Over ‘Disturbing Rape Reports in Tigray’

UN Expresses Concern Over ‘Disturbing Rape Reports in Tigray’

January 22, 2021
#Watch: I Proposed That We Send Goodluck Jonathan to Help Trump Come to Terms With Losing Election – Wole Soyinka

Soyinka: ‘No Difference’ Between Trump and Uganda’s Museveni

January 22, 2021
#Watch: I Proposed That We Send Goodluck Jonathan to Help Trump Come to Terms With Losing Election – Wole Soyinka

Trumps’s Sole Agenda Was to Dismantle Obama’s Legacy

January 22, 2021
Global Business Report

Global Business Report

January 22, 2021

Morning Show

January 22, 2021
Next James Bond Film Delayed for Third Time Due to Covid-19

Next James Bond Film Delayed for Third Time Due to Covid-19

January 22, 2021
Restructuring Alone Can’t Solve Nigeria’s Problems, Former President Jonathan Says

Restructuring Alone Can’t Solve Nigeria’s Problems, Former President Jonathan Says

January 22, 2021
Bitcoin Breaks Above $20,000 for First Time

Bitcoin Slide Continues, Heads for Worst Week Since March 2020

January 22, 2021
Nigerian Nurses Raise the Alarm over Inadequate Medical Personnel for Covid-19 Vaccination

Nigerian Nurses Raise the Alarm over Inadequate Medical Personnel for Covid-19 Vaccination

January 22, 2021
Chinese Rescuers Hope to Drill Shaft to Free Trapped Gold Miners

Trapped China Gold Miners Have to Wait 15 Days for Rescue

January 22, 2021
Finance Minister Says Nigeria Taking $750m World Bank Loan on Behalf of States, Blames Transport Costs for Inflation

Nigeria Approves $17m for 38 New Oxygen Plants Nationwide

January 22, 2021
Buhari Approves Another Five-year Term for Nigeria Ports Boss Hadiza Bala Usman

Stakeholders Hail Reappointment of Bala-Usman as Nigeria Ports Boss

January 22, 2021
Court Sets Aside Death Sentence on Kano Singer, Orders Retrial   

Court Sets Aside Death Sentence on Kano Singer, Orders Retrial  

January 22, 2021
Google Threatens to Withdraw Search Engine from Australia

Google Threatens to Withdraw Search Engine from Australia

January 22, 2021
US House Lawmakers Set to Impeach Trump For Historic 2nd Time

Republicans Seek Delay Until February to Give Trump ‘Fair’ Impeachment Trial

January 22, 2021
#EndSARS: Buhari Promises Extensive Police Reforms

Buhari Demands Stricter Measures to Tackle Tax Evasion in Nigeria

January 22, 2021
Burnley Shock Liverpool, End 68-game Unbeaten Run at Anfield    

Burnley Shock Liverpool, End 68-game Unbeaten Run at Anfield    

January 21, 2021
ARISE Newsnight

ARISE Newsnight

January 21, 2021
Georgia Senate Election on Knife-edge in Vote Count

US Senate Reconvenes in Biden Era, Under Democratic Leadership

January 21, 2021
UK Foreign Minister Visits Sudan to Discuss Bilateral Relations and Tensions With Ethiopia

UK Foreign Minister Visits Sudan to Discuss Bilateral Relations and Tensions With Ethiopia

January 21, 2021
Netflix’s ‘Bridgerton’ Renewed for Second Season

Netflix’s ‘Bridgerton’ Renewed for Second Season

January 21, 2021

ARISE XCHANGE

January 21, 2021
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
No Result
View All Result
Friday, January 22, 2021
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • US ELECTION
  • BUSINESS
  • Politics
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • US ELECTION
  • BUSINESS
  • Politics
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
No Result
View All Result
Arise News
No Result
View All Result
Home Latest

Netflix Stocks Rise after Raising Prices for US Customers

October 30, 2020
Reading Time: 3min
0 0
0
Netflix Announces New Content from Mo Abudu, Kunle Afolayan, Kemi Adetiba
Share on FacebookShare on Twitter

The streaming media company is raising the prices on its standard and premium plans for US customers. Its standard plan is now $14 a month, up $1 a month from last year. Its premium subscription will go up $2 to $18 a month. Its basic plan remains unchanged at $9 a month.

Netflix’s (NFLX) stock rose 5% following the news. The new prices will take effect starting immediately for new members while current members will be notified that their subscription is going up as it rolls out over the next few months.

“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson said in a statement. “We’re updating our prices so that we can continue to offer more variety of TV shows and films.”

The spokesperson added that Netflix offers “a range of plans so that people can pick a price that works best for their budget.”

Netflix’s price hike, which was first reported by The Verge, is not a huge surprise. Netflix spends billions on content, and this is a way to boost revenue as the “outlook for subscriber growth is substantially slower in the future than the past,” according to Bernie McTernan, a senior analyst at Rosenblatt Securities.

“The price increase was a matter of when not if,” McTernan told CNN Business. “It shows they think people will be willing to pay more for the service as the pandemic disrupts content production thus making their vast library more valuable.”

The news comes a week the company posted slowing growth in new subscriptions and lower-than-expected profits. This came after Netflix had a huge 2020 because of people being stuck at home during the coronavirus pandemic.

Netflix was asked about raising prices during its earnings call last week.

“The core model we have, and what we think really our responsibility and our job is, is to take the money that our members give us every month and invest that as judiciously and as smartly as we can,” Greg Peters, Netflix’s chief operating officer, said on the call.

“If we do that well… and make that efficiency and effectiveness better, we will deliver more value to our members, and we will occasionally go back and ask those members to pay a little bit more to keep that virtuous cycle of investment and value creation going.”

Netflix is the king of streaming and the moves it makes, especially in terms of cost to the consumer, reverberates throughout the market.

For example, McTernan noted that Disney’s stock had a positive reaction following the announcement of Netflix’s pricing going up. “This will give Disney+ cover to raise prices at some point,” he said.

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Arise News - Part of the Arise Media Group.

No Result
View All Result
  • HOME
  • Breaking
  • Global
  • Regional
  • US ELECTION
  • BUSINESS
  • Politics
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates

© 2020 Arise News - Part of the Arise Media Group.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist