Netflix hikes prices of top-end subscriptions
- Author: Carolyn Briggs Oct 07, 2017,
Oct 07, 2017, 22:32
Netflix is trying to squeeze a little bit more out of their USA -based customers by increasing the prices of two of its most popular services. Premium subscriptions, which give subscribers four screens of simultaneous streaming, now cost $13.99, a $2 jump from $11.99. This is, unfortunately, one of the plans which will be affected by the upcoming price hike.
Netflix is hiking its prices for many of its Irish subscribers. Its most useful subscription plan will see an even larger increase in its price.
The current subscribers will be notified of the changes by October 19, with the prices going into effect by their next billing cycle.
Indeed, competition in the media streaming industry is increasing and Netflix has announced plans to expand its production output.
And guess what? That basic package will not be subject to the price rises - not yet at least. When exactly will Netflix prices start to increase? It's frustrating, but we imagine most users would rather pay a bit more than give up shows like Stranger Things, Orange is the New Black, or any the Marvel shows. That's up $1 per month from the previous $9.99 monthly fee. So if you are on that standard plan, you'll be paying $0.99 per month now, which still isn't a lot, but it's not exactly "Netflix On Us" like T-Mobile would lead you to believe. And because there are other options for viewers out there in terms on-demand streaming, they may also experience a decline in subscribers over the next few months. But don't think we didn't notice, Netflix.
Why is Netflix raising its prices in the UK?
Netflix chief content officer Ted Sarandos said recently Netflix will likely increase its content spend to $7 billion next year, up from $6 billion this year and $5 billion in 2016.
Wall Street analysts have speculated that Netflix would ratchet up its pricing, as content costs continue to balloon.