- Netflix, Inc (NASDAQ:NFLX) upgraded its top-end Premium tier and issued new guidelines for account sharing in its quest for higher subscription-based revenue.
- Netflix incorporated spatial audio and expanded the number of download devices from four to six for the Premium tier by keeping the prices intact.
- Netflix spatial audio will be available on over 700 top-watched titles, including Stranger Things, The Watcher, Wednesday, and Knives Out: Glass Onion.
- Netflix looked to add spatial audio to popular new titles as they’re released, including You, Your Place or Mine, Luther: The Fallen Sun, and Tour de France.
- Netflix also cracked down on account sharing by seeking extra money to use the streaming service outside the household for extended periods.
- Netflix urged users to define a primary location through their TV.
- Now users will have to connect the accounts and devices to the same Wi-Fi as the TV.
- If a user does not set a primary location, Netflix automatically assigns one based on IP address, device IDs, and account activity.
- To ensure that the devices are associated with the primary location, users need to connect to the Wi-Fi at the primary location, open the Netflix app or website, and watch something at least once every 31 days.
- Users may seek a temporary code to watch Netflix outside their primary location.
- Netflix said it ended Q4 with 230.75 million paid subscribers after adding 7.7 million during the quarter, which beat company expectations of 4.5 million.
- Paid subscribers are up from 223.9 million sequentially and up from 221.84 million on a year-over-year basis.
- Price Action: NFLX shares traded higher by 1.47% at $359.05 on the last check Wednesday.
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