The Real Reason Fans Are Freaking Out About The Latest Netflix Price Increase
Netflix — We can’t live with it, and we can’t live without it. The streaming service giant knows that we need Bird Box and chill and our You binges, so they have no qualms about raising their prices yet again. Price hikes aren’t exactly foreign to those who adore the streaming service. After all, Netflix has been known to increase its prices over the years. A Netflix spokesperson told The Hollywood Reporter, “We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members.”
Since price hikes are normal, why are Netflix users freaking out over the latest increase?
This is Netflix’s biggest subscription price increase of all-time
Usually, Netflix raises prices subtly, so it doesn’t severely impact their customers’ wallets. However, this time, prices are getting raised immensely. The services most popular plan which includes HD streaming on up to two Internet-connected devices at the same time. The rate will increase from $11/month to $13/month.
The single subscription price will rise from $8 to $9, and the four-subscriber plan which is Netflix’s most robust plan — which includes Ultra HD, will increase from $14 to $16 per month. According to Netflix, existing subscribers will be notified about the pending price hike via email. The last time Netflix increased their cost for their subscribers was in 2017.
The price hike is set to go into effect on Jan. 15.
Netflix is racking in the dough
With massive hits like The Crown and The Chilling Adventures of Sabrina, as well as throwbacks like Friends and The Office — Netflix has been killing the game lately. The streaming service saw its share price rise 6 percent. This is why fans are so disgusted that the company is increasing costs for users.
However, with higher quality and better programming — fees are rising exponentially for the company.
Preparing for battle
With rival streaming services like Hulu, Disney, and Amazon Prime –Netflix is determined to step up their game and remain on top. In fact, NBCUniversal just announced that they are planning to launch their own streaming service in 2020 –so it’s just another brand that Netflix needs to watch out for.
Though beloved series like House of Cards and Orange is the New Black are set to end in 2019 — Netflix is undoubtedly on the prowl for new content. Media moguls like Shonda Rhimes, Kenya Barris, and even Michelle and Barack Obama have all signed multi-million dollar deals with the streaming giant, and they’re going to have to pay for these creators and their content somehow. Unfortunately, this means that the pockets of Netflix users are about to get lighter.
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