Netflix revenue rises to $10.5 billion following price hike

is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO. Netflix said in its first quarter earnings report on Thursday that revenue reached $10.5 billion in the months since it raised prices. That’s a 13 percent increase over the same time last year. The streaming service’s net income also grew to $2.9 billion, and the company says it expects more growth in the coming months when it sees “the full quarter benefit from recent price changes and continued growth in membership and advertising revenue.” Netflix raised the prices across most of its plans in January, with its premium plan hitting $24.99 per month. It also increased the price of its Extra Member option — its solution to password sharing — to $8.99 per month. Though Netflix already rolled out the increase in the US, UK, and Argentina, the streamer now plans to do the same in France. This is the first quarter that Netflix didn’t reveal ... Read full article.