Netflix is fully eliminating the cheapest plan available to Canadians on the streaming platform without advertisements, cutting it off from existing subscribers after making it unavailable to new customers last summer.
News about the plan’s demise came as part of the company’s year-end announcement that its revenue in the last three months of 2023 was up by 12 per cent compared to the year before.
These investor announcements come as competitor Amazon Prime Video is set to roll out mandatory advertisements on its streaming platform.
Netflix’s stock price rose on Wednesday as its subscriber growth appeared to cement investor confidence the firm has won the streaming wars with its crackdowns on password-sharing and a strong content slate.
The company’s stock commands a premium relative to rivals, and some analysts believe the higher valuation could be justified as the ongoing push for profitability at other streaming firms will force them to license more titles to Netflix, which may help Netflix drive up subscriber growth and average revenue per user.
The firm highlighted strong demand for licensed titles such as Young Sheldon in its earnings call on Tuesday.
Its slate of shows in the fourth quarter also included the final season of the The Crown and David Fincher’s film The Killer
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News about the plan’s demise came as part of the company’s year-end announcement that its revenue in the last three months of 2023 was up by 12 per cent compared to the year before.
These investor announcements come as competitor Amazon Prime Video is set to roll out mandatory advertisements on its streaming platform.
Netflix’s stock price rose on Wednesday as its subscriber growth appeared to cement investor confidence the firm has won the streaming wars with its crackdowns on password-sharing and a strong content slate.
The company’s stock commands a premium relative to rivals, and some analysts believe the higher valuation could be justified as the ongoing push for profitability at other streaming firms will force them to license more titles to Netflix, which may help Netflix drive up subscriber growth and average revenue per user.
The firm highlighted strong demand for licensed titles such as Young Sheldon in its earnings call on Tuesday.
Its slate of shows in the fourth quarter also included the final season of the The Crown and David Fincher’s film The Killer
The original article contains 567 words, the summary contains 162 words. Saved 71%. I’m a bot and I’m open source!