According to Reed Hastings, CEO of the streaming service, users shouldn’t expect to see a price hike anytime soon.
“We have no plans on price increases outside of inflation adjustments which we do in Brazil, which is the law there,” Hastings said on Monday during Netflix’s Q3 earnings call.
What we’re focused on is, ‘how do we increase value to the consumer?’ By having more spectacular shows so that people watch more of Netflix.
At market close on Monday, Netflix stock’s trading price jumped $20 — or 20.2 percent — per share, thanks to a strong third-quarter in both earnings and subscriber growth.
Netflix actually doubled Wall Street earnings per share (EPS) mark, reporting 12 cents apiece versus the consensus-estimated 6 cents.
“The regulatory environment for foreign digital content services in China has become challenging,” Netflix said in a statement.
