Microsoft · The Verge
In March, Netflix locked in the price of its streaming service once again
Compiled by KHAO Editorial — aggregated from 3 outlets. See llms.txt for citation guidance.
✓ KHAO Verified
Streaming Entertainment Netflix Hastings will step down as chairman after nearly 30 years at Netflix.
Key facts
- In March, Netflix raised the price of its streaming service once again, putting its cheapest ad-free plan at $19.99 per month, instead of $17.99
- The streaming giant says the jump was driven by “membership growth, higher pricing, and increased ad revenue
- During this quarter, Netflix reported revenue of $12.25 billion, marking a 16.2 percent year-over-year increase
- Streaming Entertainment Netflix Hastings will step down as chairman after nearly 30 years at Netflix
Summary
Netflix cofounder and chairman Reed Hastings plans to leave the company after nearly 30 years. The news comes as part of Netflix’s Q1 2026 earnings results released on Thursday, which says Hastings “will not stand for re-election to our Board when his current term expires at the Annual Meeting in June.” After cofounding Netflix in 1997, Hastings served as CEO from 1999 to 2023, when he stepped down and took on the role of chairman . During this quarter, Netflix reported revenue of $12.25 billion, marking a 16.2 percent year-over-year increase.