Netflix Adds 13 Million New Subscribers, Plans to Retire Ad-Free Basic Plan
In a resounding victory over its streaming competitors, Netflix has outperformed expectations by adding an impressive 13.1 million new subscribers in the fourth quarter, elevating its total count to a staggering 260 million.
Analysts, who had projected an average of 8.8 million new sign-ups, were surprised by the streaming giant’s robust performance, as reported by Variety. Netflix, not content with its current success, is set to “retire” its $11.99 ad-free Basic plan in regions with ad-supported plans, with the phase-out beginning in Canada and the U.K. during the second quarter of the year, according to The Verge.
In a letter to shareholders, Netflix hinted at potential price increases in 2024, indicating a strategic move to sustain its growth momentum.
Taking an unconventional step, Netflix has entered the world of wrestling to further boost its subscriber numbers. The streaming service recently unveiled a groundbreaking 10-year, $5.1 billion deal securing exclusive rights to WWE’s “Raw.” This strategic investment positions Netflix as a significant player in real-time programming, challenging rivals like Amazon Prime, Peacock, and Apple, which already have established live-sports deals.
Alongside the remarkable surge in subscriber growth, Netflix also exceeded analysts’ revenue expectations during the fourth quarter, solidifying its dominance in the ever-evolving streaming landscape.
