Netflix adds 8.7M subscribers despite actors strike, price hike

By Ovunc Kutlu

ISTANBUL (AA) - Netflix added 8.76 million subscribers in the third quarter of this year, despite actors' strikes and price hikes.

The company's global streaming paid memberships climbed to 247.15 million during the three months ending Sept. 30, up from 238.39 million in the second quarter, according to its financial results released late Wednesday.

The online streaming platform saw its annual revenue increase 7.8% to more than $8.54 billion in the third quarter, from around $7.92 recorded in the same quarter of last year.

Net income, meanwhile, rose nearly 19% year-on-year to $1.67 billion, from 1.4%.

"The last six months have been challenging for our industry given the combined writers and actors strikes in the US," said the statement. "While we have reached an agreement with the WGA, negotiations with SAG-AFTRA are ongoing."

"We’re committed to resolving the remaining issues as quickly as possible so everyone can return to work making movies and TV shows that audiences will love," it added.

The Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP) which represents studios, streaming services, and producers reached a tentative agreement last month.

However, the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) strike with Disney, Netflix, Warner Bros. and NBCUniversal will reach 100 days on Saturday -- the longest in their history.

Netflix also announced it is adjusting prices in the US, the UK and France. In the US, the Basic and Premium plans will now cost $11.99 and $22.99, respectively, up from $9.99 and $19.99.