On Thursday, the business informed investors that it was “working to improve our monetization by refining our plans and pricing” and that it has already raised rates in Japan and other regions of Europe, the Middle East, and Africa in the past month.
Hikes in Spain and Italy will begin this week.
The announcement was made as the streaming behemoth said that it has added 5.1 million new members in the three months ending in September, which is the fewest in almost a year.
Given its already enormous reach, Netflix is under pressure to demonstrate to investors what will fuel growth in the years to come.
The corporation last showed indications of slowing down in 2022 when it announced a new streaming alternative with ads and began cracking down on password sharing.
A new wave of growth was unleashed by the crackdown.
Since its launch last year, the company has added over 45 million new subscribers. Today, it has over 282 million subscribers worldwide.
Analysts also anticipate that Netflix will eventually make a lot of money from its ads.
Although many members choose the ad-supported plan, the firm has stated that it is still in its “early days” and advised investors not to expect it to start driving growth until next year.
