People won’t stop subscribing to Netflix, so Netflix won’t stop raising prices. Subscribers in the US will now have to pay $3/month more to access Netflix in 4K. The premium tier now costs $22.99. Netflix is also increasing the price of its basic tier, and two more countries will see these price hikes.
As part of its earnings announcement, Netflix revealed the amount of its promised price increase.
Top comment by BelgianWaffle
Netflix feels like what cable television felt like years ago - it's in the past.
I stopped my subscription about 5 years ago and onlt re-subscribed for a month or 2 here and there 2-3 times in those 5 years. It's partly simply due to a lack of time but also because Netflix has too much content and the good content is simply drowned by the awful stuff. I think Netflix has the issue music streaming services have which is content discovery, only it affects Netflix harder because at least with music people have their music collection as default which they listen to most of the time and only are on the lookout to discover new stuff at certain times. But people don't re-watch the same content as they re-listen to songs. And their constant price increases won't solve that issue.
I think the best thing Netflix can do now is improve their algorithm and to focus more on quality over quantity. If there were some quality documentaries on Netflix, I'd subscribe, and if it's quality I'll pay.
“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 company said.
Here’s the new pricing per plan for Netflix in the US/UK/France:
- Ads – $6.99 / £4.99 / 5.99€
- Basic – $11.99 / £7.99 / 10.99€
- Standard – $15.49 / £10.99 / 13.49€
- Premium – $22.99 / £17.99 / 19.99€
The price hikes affect basic and premium tiers. Ads and standard tier plans remain the same price as before. The move puts 4K access at $5/month higher than its price before March 2022 when it last cranked up the cost.
“Our starting price is extremely competitive with other streamers,” Netflix said, “and at $6.99 per month in the US, for example, it’s much less than the average price of a single movie ticket.”
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