Netflix subscribers bracing for another increase in membership fees
*Streaming on a Dime? Not So Much Anymore, Netflix!
Looks like your wallet's about to feel the Netflix squeeze, my friend! The streaming titan's tossing its hat into the price hike ring, and it's not just the new entries that'll feel the pinch. All three tiers – Standard and Premium – are getting a price bump.
The Standard Plan, stepping up to $14 from $13, and the Premium Plan, jumping to $18 from $16, are feeling the hit. You'll notice the change in your bills in the next couple of months, with Netflix confirming the news to CNBC. It's been speculated for quite a while now, and with the halt on free trials and the recent surge in Canada's subscription cost, it seemed inevitable.
Netflix, the streaming titan that's been ruling our living rooms for the longest time, seems to be in the big leagues now. Fueled by the pandemic-induced lockdown, the service has seen a massive surge in its numbers. With a focus on green-lighting exclusive originals, the platform's generating value that justifies cost increases to subscribers, according to COO Greg Peters.
But here's the catch – some of your fav series have been the casualty of this value creation. Shows like The OA, Dark Crystal: Age of Resistance, Luke Cage, The Chilling Adventures of Sabrina, Altered Carbon, and Tuca & Bertie have fallen by the wayside, despite their popularity. Netflix's mystery metrics for success seems to have spelled their doom.
Netflix may be getting closer and closer to the $20 per month subscription cost, a hefty fee that puts it on par with rivals like HBO Max, Apple TV+, and even Disney+. It's a tough call whether to stick around for obscenely priced content that keeps canceling the best series, or cut the cord and find solace in other streaming bosoms. Unless, of course, we're all just dying for an endless stream of Unsolved Mysteries!
Quick Glance at the Fine Print:Netflix is adjusting pricing, investing in new content, and improving its offerings, all while grappling with intense competition. Its key plans now come with ads or cost a premium for improved features like 4K viewing, spatial audio, and downloads. Some content might be locked behind these tier barriers. Existing customers get automatic billing adjustments, but no free trials or annual plans. Password sharing restrictions may also affect your account, applying mainly to those outside the household.
- Despite the Netflix price hike, the streaming service's focus on creating exclusive originals efforts to justify the increased cost to subscribers.
- The surge in Netflix's subscriber numbers during the pandemic has moved the service into the big leagues, positioning it alongside rivals like HBO Max, Apple TV+, and Disney+.
- The cost of Netflix's premium offerings, such as 4K viewing, spatial audio, and downloads, may lock certain content behind tier barriers for subscribers.
- As Netflix adjusts its pricing and invests in new content, existing customers will see billing adjustments, but free trials and annual plans will no longer be available.
