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Netflix's price hike didn't hurt subscriber growth
Netflix's delayed-price-hike strategy has apparently paid off, as its earnings report for the third quarter (PDF) showed it added more customers than expected. By the end of the quarter, Netflix says about 75 percent of its older customers have been un-grandfathered to the new price. Despite that bump, it outdid its forecast of adding 2.3 million customers worldwide by adding 3.57 million (370,000 or so in the US), and it expects to add more than 5 million new accounts to that list over the next three months. As a result, Netflix's shares are up nearly $20 in after-hours trading.
