This year's subscriber inroads have been made despite entertainment labor strife centered in part on writers' and actors' complaints about unfairly low payments doled out by video streaming services such as Netflix. ![]() But it's still a fraction of the more than 36 million additional subscribers that Netflix attracted in 2020 when the pandemic turned into a gold mine for the service at a time when people were looking for ways to stay entertained while tethered to home. Netflix has picked up more than 16 million subscribers through the first nine months of the year, already eclipsing the 8.9 million subscribers that it added all of last year. Netflix shares have increased by about 30% so far this year amid mounting evidence its video streaming service is faring better than most in a crowded fielded of competitors that is testing the financial limits of many households. The company's stock price soared more than 12% in extended trading after the latest quarterly numbers came out. The Los Gatos, California, company earned $1.68 billion, or $3.73 per share, a 20% increase from the same time last year while revenue climbed 8% to $8.54 billion. Netflix's financial performance also topped the analyst forecasts that shape investor expectations. The increase left Netflix with about 247 million worldwide subscribers, well above the 243.8 million projected by analysts surveyed by FactSet Research. The company added nearly 8.8 million worldwide subscribers during the July-September period, more than tripling the number gained during the same time last year when Netflix was scrambling to recover from a downturn in customers during the first half last year. It also raised its prices for subscribers in the U.K. will remain unchanged, as will a $7 monthly plan that includes intermittent commercials. ![]() The $15.50 per month price for Netflix's most popular streaming option in the U.S. a 10% increase - and its lowest-priced, ad-free streaming plan to $12 - another $2 bump. In an effort to bring in even more revenue, Netflix also announced it's raising the price for its most expensive streaming service by $2 to $23 per month in the U.S. SAN FRANCISCO - Netflix on Wednesday disclosed summertime subscriber gains that surpassed industry analysts' projections, signaling the video streaming service's crackdown on password sharing is converting former freeloaders into paying customers. Netflix sign is photographed outside its office building in Los Angeles, Wednesday, April 20, 2022.
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