Netflix celebrates profits by putting up prices
They’re rubbing their hands together and laughing maniacally at Netflix today, as the live streaming TV behemoths celebrated profits of $53m (£32m) during the first quarter of 2014.
And to thank us all for devotedly putting them where they are today, they’re also considering a monthly price increase for new members. CHEERS! But it will only be ‘a dollar or two’, they say. Netflix CEO Reed Hastings (who sounds like a Bret Easton Ellis character) has said that the price increase will help ‘acquire new content and deliver an even better streaming experience.’
Basically, thanks to the success of House of Cards, Netflix could show us their bumhole, fart the theme tune to Orange is The New Black and only show films in Swahili for a month and we’d still all love it. Shares are up 6%, the champagne is flowing, the bunting is up, and Kevin Spacey is looking rather smug.
However, globally speaking, HBO are still way ahead in terms of subscribers, with 130 million to Netflix’s 50 million. And will putting up monthly prices really increase their membership, or just send everyone scurrying to another service?