Netflix is now raising subscription prices for new and long-time subscribers. Judging by past, this will be met by many backlashes from users. This is understandable. People go by budgets and change to this will cause concern. It is not a surprising move by Netflix.
Netflix is not in a position to cut costs when it comes to the content creation side, as competitors like Amazon are pumping more money into the original movies and shows. While Netflix is the biggest name in the streaming ecosystem, this may not be the case, and the company is allowing itself to fall behind.
According to Variety, the price of Netflix’s popular streaming plan – which lets up to 2 simultaneous streams and access to 1080p HD content will go up to $10.99 per month. That is an increase of a single dollar from the $9.99 rate. In a change which will concern a smaller number of Netflix’s subscribers, this price of the highest level plan which now allows up to 4 streams and access to 4K Ultra HD content will hike to $13.99 per month. That is two dollars increase from the $11.99 monthly rate. The price of Netflix’s plan, SD, one stream at a time will be the same at, $7.99.
Subscribers will point out the fact that it was not long ago that Netflix had increased prices against the announcement that the service is increasing them again. Netflix recently raised prices for new subscribers in 2015 with the change being rolled out to existing subscribers in 2016.
As for when subscribers can expect new prices reflected on the monthly bill, Netflix plans to start notifying members of the increase on October 19 and will also send the notices out 30 days before each user’s next billing date.