Netflix Realigns Pricing Strategy In Australia, Ends Basic Plan For New Members
Portfolio Pulse from Benzinga Neuro
Netflix Inc. (NASDAQ:NFLX) has decided to discontinue its Basic plan in several countries, including Australia. The change will affect new and returning subscribers, but current users will retain their existing plans. The company plans to initiate the same changes in Germany, Spain, Japan, Mexico, Australia, and Brazil next week. This decision follows Netflix's strong Q3 results, where it reported a 7.8% YoY increase in revenue to $8.54 billion.
October 19, 2023 | 12:43 pm
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Netflix discontinues its Basic plan in several countries, which may affect its subscriber growth. However, the company's strong Q3 results may offset any potential negative impact.
Netflix's decision to discontinue its Basic plan may initially lead to a slowdown in subscriber growth. However, the company's strong Q3 results, with a 7.8% YoY increase in revenue, may offset any potential negative impact. The company's future performance will depend on how well it can manage this transition and continue to attract new subscribers.
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