Netflix’s stock jumped over 14% on Tuesday after the company announced impressive fourth-quarter earnings that exceeded expectations.
During the quarter, Netflix surpassed 300 million paid subscribers, gaining a record 19 million new members. The company attributed this growth to a strong lineup of content, enhancements to its platform, and typical seasonal trends in the fourth quarter.
Netflix also revealed that when including additional member accounts, its total global audience exceeds 700 million.
The firm plans to increase prices for some streaming options by $1 to $2 per month.
In markets where it offers a cheaper, ad-supported tier, more than 55% of new subscribers opted for this plan. Memberships in these ad-supported options rose by about 30% from the previous quarter.
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