Raise In Netflix Subscription Charges in US
Raise In Netflix Subscription Charges in US
Netflix is boosting its prices across the board for all of its plans in the United States. For the regular plan, the monthly fee will go up to $15.50 from $14, while the 4K plan’s fee will go up to $20 from $18. There is a $10 per month increase in the base package that does not include HD. In Canada, prices are growing as well.
New subscribers will see the price increases immediately. The changes will be rolled out “gradually,” for existing subscribers. They agreed to send out an email to subscribers 30 days before the price increase takes effect.
In recent years, the cost of a Netflix subscription has progressively increased. The regular plan increased to $14 per month from $13 per month in late 2020, following a prior increase to $13 from $11 per month in 2019. Prior to that, Netflix increased its fees in 2017 and 2015, respectively. When Netflix announced its initial price increase in 2014, the business was so concerned about losing subscribers as a result of a $1 per month increase that it allowed existing members to keep their subscription rates for an additional two years. It hasn’t granted such a large benefit in the years that have followed.
For Competition
Netflix’s pricing increases come at a time when the service is both popular and under pressure. The corporation already has a sizable user base across the United States, so raising prices is a logical solution to boosting revenue. When it comes to competing with other major streaming services like Disney+ and HBO Max, Netflix has been spending a lot of money on content to keep up with them.
“We’re changing our fees so that we can continue to provide a wide choice of great entertainment alternatives,” a Netflix spokeswoman said to Reuters. In order to meet the needs of our members, we have a variety of plans to choose from.
It’s not just Netflix who’s recently raised fees. In October, Hulu increased the monthly cost of its ad-supported and ad-free packages by $1.
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