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Netflix Added 18.9 Million Subscribers in its Holiday Quarter

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Netflix added 18.9 million subscribers in its holiday quarter, blowing past Wall Street’s forecasts, with live sporting events and the return of its popular South Korean series “Squid Game” attracting a record number of new customers, the company reported on Tuesday.

The streaming giant said that as it continues to invest in programming that its members value, it will increase prices for the service for most plans in the U.S., Canada, Portugal and Argentina. In the U.S., the basic service with ads would increase by $1 a month to $7.99, a 14% price increase, while the premium package will cost $24.99, an increase of 9%.

Netflix said its fourth-quarter programming slate surpassed its internal expectations, with the Jake Paul vs. Mike Tyson boxing match becoming the most-streamed sporting event and the two National Football League games on Christmas Day delivering two of the most-streamed competitions in league history.

The service also benefited from the second season of its dystopian thriller “Squid Game,” which the company said is on track to become one of its most-watched original series. The company has the lowest rate of cancellations among the subscription streaming services, with a churn rate of 1.8% in December, according to researcher Antenna.

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