Netflix announced in its third-quarter earnings that it added 8.8 million new subscribers last quarter, marking its highest quarterly subscriber growth in over three years. This is a significant increase compared to the 2.4 million subscribers it added in the same period the previous year. Part of the success appears to be attributed to the recent crackdown on password-sharing amongst its users. The figures also reveal that Netflix plans to hike the prices of basic and premium tiers in the U.S., U.K., and France. The increase in the U.S for the basic plan without ads, which is no longer available to new subscribers, will be from $9.99 to $11.99, while the premium plan will go from $19.99 to $22.99.

In the U.K., the basic plan will see an increase from £6.99 to £7.99, and the premium plan from £15.99 to £17.99. In France, the basic plan price will become 10.99€ and the premium plan 19.99€. Netflix confirmed that the ad-supported and standard plans for these regions will remain unaltered. The company also noted earlier this month that they plan to increase prices once the SAG-AFTRA strike is resolved, which aligns with the trend of streaming platforms gradually raising prices. For instance, Disney's Hulu and Disney+, along with Discovery+, all became more expensive this month.

The decision by Netflix to start charging for shared accounts from May onwards, while initially unpopular, has paid dividends, resulting in a boost of the Q3 subscriber count by 5.9 million. The company commented on the success of their strategy stating, "cancel reaction [to the password-sharing crackdown] continues to be low, exceeding our expectations, and borrower households converting into full paying memberships are demonstrating healthy retention." It was also mentioned that other streaming services, like Disney+, are planning to adopt similar measures by 2024.

Netflix cited popular original series like 'One Piece', 'The Witcher Season 3', and 'Sex Education Season 4', and licensed hits like 'Suits' as key draws for its subscriber growth. The company acknowledged that it's been a challenging six months in light of the SAG-AFTRA strike and the recently concluded writers' strike, but they remain committed to resolving outstanding issues "as quickly as possible so everyone can return to work making movies and TV shows that audiences will love."