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The company increased the US price of the ad-free premium plan by $3 per month to $22.99. The One Stream basic plan increased by $2 per month.
Netflix is increasing subscription prices, here’s how much it will now cost
New Delhi: After introducing additional fees for share accounts earlier this year, Netflix now plans to increase the monthly subscription plan for some streaming plans in the US, UK and France. The company announced the decision in a letter to shareholders on Wednesday, saying customers in those regions could expect price increases today, with new subscription changes rolling out next week for subscribers in Germany, Spain, Japan, Mexico, Australia and Brazil.
“As we provide more value to our members, we occasionally ask them to pay a little more,” Netflix said in announcing its third-quarter earnings results. “Our starting price is extremely competitive compared to other streamers and is, for example, US$6.99 per month, well below the average price of a single movie ticket in the USA.”
According to LSEG, nearly 9 million subscribers signed up for Netflix worldwide in the third quarter, surpassing Wall Street analysts’ forecast of 6 million. Netflix said it expects a similar number of new additions for the current quarter. The strong performance showed that Netflix was thriving despite labor disputes in Hollywood that shut down much U.S. production. Netflix produces many of its series and films abroad, which accounted for the majority of its new registrations.
Netflix subscription plan
The basic plan will be up to $12 per month, but it is unclear if there will be any changes to the number of concurrent streams in the subscription or if additional members will be allowed. The Basic plan is no longer available to new Netflix subscribers. Premium now costs $23 per month, and the price of the platform’s ad-supported ($7) and standard ($15.50 per month) plans does not change.
Although Netflix hasn’t increased subscription prices since January 2022, it did away with the basic $10 plan last summer and charges an additional $8 per person if you share your membership with someone outside your household.
Netflix increased the US price of its ad-free Premium plan by $3 per month to $22.99. The cost of the premium rose by 2 pounds to 17.99 pounds in the UK and by 2 euros to 19.99 euros in France.
The news comes after several of its streaming competitors increased prices this year. Competitors like Disney Plus, Hulu, Peacock, Discovery Plus and Paramount Plus have all implemented price increases in the last three months. Compared to Disney Plus and Hulu, Netflix’s new pricing plan will be similar.
Source : www.india.com