Netflix announces another price increase for Basic and Premium plans
Netflix has revealed another price increase for two of its subscription plans in a recent letter to shareholders. The Basic plan, previously priced at $9.99 per month, will now cost $11.99, while the Premium plan will rise from $19.99 to $22.99 per month. The $6.99 ad-supported and $15.49 Standard tiers remain unaffected.
Netflix explained in the letter that “While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more.”
The recent strategy to limit password sharing seems to have yielded positive results for Netflix. The company has reported a 10 percent annual increase in paid memberships, reaching 247.15 million. The third quarter of the year saw the most substantial increase in paid net subscriber additions, totaling 8.76 million. Furthermore, the ad-supported plan, which accounted for 30 percent of all new sign-ups in available countries, is performing as expected.
Notably, Netflix is not the only company to raise prices recently. Several video and music streaming services (Disney+, YouTube Premium, Spotify, and more) have also increased their prices over the past few months.
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External links
- Here comes another Netflix price hikeThe Verge
- Netflix Raising U.S. Prices Yet Again, Premium Plan Now Costs $23/MonthMacRumors
- Netflix raises prices again after reporting strong subscriber growthTechCrunch
- Netflix Just Raised Prices Again — Here’s How It Affects Your SubscriptionForbes
- Netflix hikes prices againCNN
- Netflix Subscription Plans, Explained: How Much Does It Cost?IGN
Comments
Netflix has never been the best streaming service out there, they just had the best PR department to get them over initially and of course the whole mini feud with Blockbuster helped them get attention too. For every good or half decent original show or movie they create, they probably make about 20 awful ones. Honestly it is your money and you can spend it how you like but Netflix is not "all that" and there are better things out there to spend your money on and no I don't mean other streaming services.
I flew from netflix last year, best decision ever!
I completely understand that Netflix is one of the most important platforms, but it's not fair that after not allowing screen sharing, they have to make such significant increases in their plans. They should be cautious because there are other platforms that can affect them as they are more affordable and have greater accessibility. Este es un link