Netflix eliminating Apple billing for subscribers
New and rejoining Netflix users already have not had Apple billing as an option for years
Netflix has 'asserted' itself as the leader in streaming: Mark Mahaney
Evercore ISI senior managing director Mark Mahaney discusses Netflix's market performance and why Google is risky.
Netflix is making certain subscribers switch to a different payment method.
Users still paying the bill for their Netflix basic plan membership through iTunes or the Apple App Store will have to transition to credit or debit cards moving forward, a source at Netflix told FOX Business.
Netflix has been sunsetting its Basic tier in some markets. In the U.S., the company stopped letting new or rejoining members sign up for it over the summer and, more recently, increased its price by $3 to $11.99 per month.
NETFLIX DEAL WITH WWE WON'T CHANGE ITS SPORTS STRATEGY
The payment method change prompt "to continue their subscription" will appear for "some Apple-billed members in select countries," according to the Netflix help page about billing through the iPhone maker.
In this photo illustration, the Netflix logo is displayed on a smartphone screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images / Getty Images)
"Netflix Gift Cards cannot be used to restart these accounts," the website added.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NFLX | NETFLIX INC. | 837.26 | +6.79 | +0.82% |
| AAPL | APPLE INC. | 228.22 | +3.10 | +1.38% |
Apple can charge 15-30% on app purchases, according to reports.
NETFLIX SUBSCRIBER GROWTH BLOWS PAST WALL STREET ESTIMATES, STOCK RISES
Paying for Netflix through Apple "is no longer available for new or rejoining members," Netflix also noted on its website. That, according to The Verge, has been the case since 2018.
The Netflix logo is displayed on a mobile phone screen with the Netflix website in the background for a illustration photo. (Beata Zawrzel/NurPhoto via Getty Images / Getty Images)
Roughly 260.28 million people around the world owned subscriptions to Netflix at the end of 2023’s fourth quarter, including 80.13 million in the United States and Canada.
HULU, NETFLIX, APPLETV+ AND MORE STREAMING SERVICES INCREASED THEIR PRICES IN 2023: ‘STREAM-FLATION’
Those subscribers helped Netflix notch $8.83 billion in fourth-quarter revenues, marking a 12.5% year-over-year increase. The company’s net income, meanwhile, came in at $938 million.
Netflix
It expects to see $9.24 billion in revenues and $1.98 billion in net income in the first quarter of this year.