Skip to content
Search

Latest Stories

Netflix adds 13m new subscribers in three months despite price hike

Netflix finished 2023 with slightly more than 260 million subscribers worldwide, with a profit of $938 million in the final quarter versus just $55 million in the same period a year earlier

Netflix adds 13m new subscribers in three months despite price hike

Netflix added 13 million subscribers in the final three months of last year, the company said on Tuesday, despite price hikes at the leading streaming service.

Netflix finished 2023 with slightly more than 260 million subscribers worldwide, with a profit of $938 million in the final quarter versus just $55 million in the same period a year earlier.


Netflix’s most expensive service rose to £17.99 (€20.65) per month in the UK and France, while the ad-free lowest-priced streaming option cost £7.99 in the UK.

"We believe there is plenty of room for growth ahead as streaming expands," the US company said in an earnings letter.

Netflix shares were up more than 8 percent to $532.75 in after-market trades that followed the release of the earnings figures.

"Netflix sticks out as the clear front runner in the streaming wars," said Insider Intelligence principal analyst Ross Benes.

The streaming pioneer said that despite last year's strikes by Hollywood actors and writers, the company has a "big, bold" slate of content for release this year.

The company touted coming content including a sequel to the hit Squid Game series out of South Korea and a brand new "3 Body Problem" show based on a bestselling novel by the same name.

"Choice and control are the price of entry in modern entertainment, and that is streaming," Netflix said in the letter.

"It's what consumers want, and we believe it's the best way for our industry to stay relevant and growing."

The earnings news came the same day that Netflix sealed a long-term broadcast deal with the WWE professional wrestling juggernaut, as it pushes further into sporting events.

Beginning in the United States in 2025, Netflix will become the exclusive new home of "Raw," the WWE's flagship program that has been broadcasting on television since 1993.

The agreement will also see WWE shows and live events streamed across the globe as their rights become available.

With an initial 10-year term for $5 billion, the deal has an option for Netflix to extend the deal for an additional 10 years or opt out after the initial five years.

"We expect our industry to remain highly competitive," Netflix said, citing heavy investment by rivals like Amazon, Apple, and YouTube.

"It's why continuing to improve our entertainment offering is so important." (AFP)

More For You

Apple India Reroutes 97% of iPhones to US Amid Tariff Push

Apple iPhones are seen inside India's first Apple retail store in Mumbai, India, April 17, 2023.

REUTERS

Foxconn sends 97 per cent of India iPhone exports to US amid tariff push

NEARLY all iPhones exported by Foxconn from India between March and May were shipped to the United States, according to customs data reviewed by Reuters.

The data showed that 97 per cent of Foxconn’s iPhone exports during this period went to the US, significantly higher than the 2024 average of 50.3 per cent.

Keep ReadingShow less
Weaker labour market data sparks debate on rate cuts

The Bank of England is weighing inflation signals ahead of rate call

Weaker labour market data sparks debate on rate cuts

PAY growth in Britain slowed sharply and unemployment rose to its highest level in nearly four years in the three months to April, official figures showed on Tuesday (10), potentially reducing the Bank of England’s (BoE) caution over further interest rate cuts.

Wage growth excluding bonuses slowed to 5.2 per cent, the weakest pace since the three months to September, and fell more than expected from 5.5 per cent in January to March this year.

Keep ReadingShow less
London Tech Week: Indian firms show investment intent

Keir Starmer at London Tech Week in London on Monday (9)

London Tech Week: Indian firms show investment intent

MORE THAN 350 technology companies from India joined London Tech Week, which began on Monday – making it the largest-ever delegation from the country to attend the event.

London mayor Sadiq Khan’s office, City Hall, described the rise in Indian participation as a reflection of deepening ties between India and London’s tech sectors, following the recent signing of the India– UK Free Trade Agreement (FTA).

Keep ReadingShow less
London Tech Week

The discussion around inclusivity and parenthood is likely to remain in the spotlight.

Getty Images

London Tech Week: Woman entrepreneur says she was humiliated after being denied entry for bringing baby

A female entrepreneur has said she felt “absolutely humiliated” after being denied entry to London Tech Week because she was accompanied by her 18-month-old daughter.

Davina Schonle, founder and chief executive of AI start-up Humanvantage AI, had travelled from her home to attend the event at Olympia on Monday, 10 June. She said she had made a three-hour journey to London with her daughter, Isabella, only to be turned away on arrival because children were not allowed into the venue.

Keep ReadingShow less
Smartless Mobile launched by podcast trio

The move marks the first commercial spin-off from the Smartless podcast

Getty Images

Smartless podcast trio launches Smartless Mobile as low-cost phone service

The hosts of the popular Smartless podcast, actors Will Arnett, Jason Bateman and Sean Hayes, have launched a new mobile phone service in the United States. Called Smartless Mobile, the service offers a budget-friendly alternative to traditional phone plans and is aimed at users who spend most of their time connected to WiFi.

The move marks the first commercial spin-off from the Smartless podcast, which is known for its celebrity interviews and humorous tone. The new venture was announced in early June 2025 and has already begun accepting sign-ups across the US mainland and Puerto Rico.

Keep ReadingShow less