Netflix’s crackdown on password sharing appears to be paying off as the streaming service added 9mn subscribers in the third quarter — well above forecasts of about 6mn.
Shares in the group rose by 12 per cent in after-hours trading as it also announced plans to raise prices for basic and premium subscribers in the US, UK and France, effective immediately.
Subscribers to the basic service in the US will see their monthly bill rise by $2 to $11.99, while premium subscriptions will rise by $3 to $22.99. Basic subscribers in the UK will pay an additional £1, or £7.99, with premium memberships rising by £2 to £17.99.
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