Some U.S. Netflix subscribers will have to pick a new plan
Back at the beginning of this month, we told you that Netflix was removing the $11.99 monthly ad-free plan in Canada and the U.K. starting on July 13th. Now, the streaming service is making the same move in the U.S. In a letter sent to stockholders which showed that the company added 8.05 million new paid streaming subscribers during the second quarter, the company announced that the ad-free $11.99 monthly plan was being removed in the U.S. and France joining the U.K. and Canada.
This could end up creating a new global NATO alliance: Netflix A'int giving us enough Television Options. But we digress. After the removal of the $11.99 plan, U.S. subscribers can choose from the following Netflix pricing options:
- Standard with ads-$6.99 per month subscription with ads. Videos stream in Standard Definition on two devices at a time and download on two supported devices.
- Standard Plan-$15.49 per month subscription with no ads. Videos stream in Standard HD video. Download videos on two supported devices and for $7.99 you can add a member who doesn't live near you.
- Premium Plan-$22.49 per month subscription with no ads. Video Stream in Ultra HD (4K) on four devices at one time and download on six supported devices. There is an option to add up to two extra members who don't live near you for $7.99 each.
Netflix says that subscribers in the U.S. and France currently subscribed to the $11.99 per month basic plan will have to pick a new plan. These subscribers should start receiving an email from Netflix as soon as today. Netflix co-CEO Greg Peters, citing the $6.99 plan, said that Netflix remains "a very strong offering for our members."
Streaming is now far and away the most popular way to watch television in the U.S. | Image credit-Netflix
For the second calendar quarter of 2024, Netflix revenue rose nearly 17% year-over-year to $9.56 billion. Net income rose 44% on an annual basis to $2.15 billion and earnings per share grew 48% to $4.88. Netflix now has 277.65 million paid streaming subscribers globally. Despite the strong report, Netflix shares declined $4.42 to $643.04 due to forecasts for the current quarter that are not as spectacular as the results from last quarter.
During the second quarter, Netflix attracted its largest live audience ever for The Roast of Tom Brady and streamed hits such as Bridgerton Season 3, Baby Reindeer, Queen of Tears, and The Great Indian Kapil Show. Popular films viewed during the second quarter included Under Paris, Atlas and Hit Man.
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