Skip to main content

Netflix eliminating Apple billing for subscribers

Users still paying the bill to their Netflix basic plan through iTunes or the Apple App Store will have to transition to credit or debit cards moving forward, a Netflix source told FOX Business.

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. 

"Netflix Gift Cards cannot be used to restart these accounts," the website added.

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.

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.

It expects to see $9.24 billion in revenues and $1.98 billion in net income in the first quarter of this year.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.