News Link: Netflix Raising The Prices
Netflix just raised prices for its US subscribers and bumped up the standard plan to $14/month and the premium plan to $18/month. The basic plan though remains priced at $9.
New subscribers will have to pay the updated fees. And the current subscribers will see the new prices reflect over the new few weeks as they roll out with billing cycles.
A price hike at Netflix was long-anticipated since the last time the platform had increased its fees in the US. Netflix also increased the costs of some of its plans in Canada recently. Netflix usually rolls out its price changes on a country-by-country basis. Netflix spokesperson told The Verge that price changes in the US do not influence or indicate price changes globally.
And Netflix is aware of this but it is raising prices so that they can continue to offer more variety of shows and films.
This price hike is also happening at a time when Netflix is looking to invest in on content and product features more heavily. Netflix has reportedly increased its content budget every single year over the last seven years. Increased competition only means that Netflix needs to continuously step-up its game to ensure that it has both quality and quantity of content.
Compiled by – MK (Editor)
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News Link: Netflix Raising The Prices
