
As a devoted cinephile, I woke up to an exhilarating piece of news on Wednesday: Netflix’s stock had opened at a staggering $997.66 per share, marking a 15% surge! This massive leap catapulted the company’s market capitalization over the $420 billion mark.
The excitement didn’t end there for the day before, after the market closed, Netflix revealed some jaw-dropping figures. They had added an impressive 18.9 million new subscribers worldwide – nearly doubling what analysts anticipated! This brought their total subscriber base to a whopping 301.6 million.
But that’s not all! The streaming giant also announced price hikes across several key markets, including the U.S., and even on its ad-supported entry-level tier. This bold move underscores their strong pricing power, leaving no doubt about Netflix’s dominance in the streaming industry.