Netflix said its effort to limit password sharing led to a 10.8 per cent rise in subscriptions in the third quarter, a better-than-expected result as the company plans to increase some prices in the US and other markets. From a report:

The streaming giant added 8.8 million subscribers in the third quarter, with customer growth in every region, its most significant quarterly customer gain since the second quarter of 2020.

The company plans to immediately raise prices for its basic plan in the U.S., which is no longer available to new customers, to $11.99 from $9.99 and up the cost of its premium plan to $22.99 from $19.99.

It is also increasing some prices in the U.K. and France, though the cost of its ad-supported and standard ad-free plans are unchanged.

The price increases are a sign of streamers' efforts to improve profitability and wean consumers off the low monthly subscription fees that drew users away from pricey cable bundles in the early days of streaming and made the company viable in the first place.