Netflix Raises Prices and Beats Expectations as it Cracks Down on Password Sharing
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Netflix announced price increases for its premium plan, now $23/month in the U.S.
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The company gained nearly 8.8 million subscribers globally in Q3 2022, exceeding expectations.
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Revenue was up 8% to $8.54 billion, also beating analyst projections.
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Netflix is cracking down on password sharing, converting freeloaders to paying customers.
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The company plans to spend $17 billion on content in 2023 to rebuild its library after labor disputes are resolved.