Netflix's Subscriber Surge and Price Hikes: What You Need to Know

Netflix is raising prices for some of its customers following strong subscriber growth, with an additional 8.8 million customers added in the third quarter, bringing the total subscriber count to 247.2 million. The costliest plan in the U.S. will increase by $3 to $22.99 per month, while the basic plan will rise by $2 to $11.99 per month. The ad-supported plan will remain the same. Netflix cited the quality of its programming and its crackdown on password sharing as factors contributing to its increased reach. The company reported third-quarter earnings of $1.68 billion, up 20% from the previous year, and forecasted revenue of $8.69 billion for the current quarter.