![]() (Not that Suits had anywhere near the success of those franchises on cable. The company’s standard plan will rise to 15. ![]() Buoyed by the success of Suits - which Netflix says generated some 1 billion viewing hours globally - “we may have increased opportunities to license more hit titles to complement our original programming.” Netflix didn’t say what titles that may include, but it did point to the continued success of major series like Friends and The Office. Netflix is raising prices across all of its plans in the US today. Netflix ended the quarter with a total of 247.15 million paid subscriptions worldwide, up nearly 11% from the previous quarter.Īnd don’t be surprised if you see more reheated content on Netflix. Netflix said its raising the price for its most expensive streaming service by 2 to 23 per month in the U.S., and its lowest-priced, ad-free streaming plan to 12 another 2 bump. Netflix also said that the shift toward paid sharing - that is, keeping you from sharing your account with someone who doesn’t actually live with you - has resulted in “low” numbers of cancellations, “exceeding our expectations.” That scheme allows accountholders to add on an additional household for $8 a month, or convert them into their own, full accounts. Like in the U.S., Netflix is ramping up the advertising plan and killing the Basic option in Germany, Spain, Japan, Mexico, Australia, and Brazil, starting next week. More changes are coming to Netflix’s global subscribers, too. New My Netflix tab looks to make streaming on the go a bit easierĮlsewhere in the world, price increases also will be seen in the U.K. CNN Sans ™ & © 2016 Cable News Network.Netflix’s ad-supported tier will include ad-free bonus episodes in 2024ĭon’t bother sending back those final Netflix DVD rentals Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Raising prices on consumers is an easy way to get it. ![]() The pricing increase comes a week before the streaming company is set to announce its fourth quarter earnings.īut the reason behind the company’s move is pretty simple: It has been spending billions of dollars on content, and as streaming becomes more integral to the entertainment landscape, growth for companies like Netflix tends to slow and attracting new subscribers gets harder.Īt that point, revenue needs to come from somewhere. Netflix’s stock rose roughly 2% following the news. As always we offer a range of plans so members can pick a price that works for their budget.” ![]() Netflix’s decision to hike prices isn’t coming out of the blue. “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. The Rationale Behind Netflix’s Pricing Strategy. “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix Netflix hikes price (again) ' In the U.S., the prices for the basic plan, the lowest tier plan without advertising, which is no longer available to new members, will increase from 9.99 to 11.99, while the premium plan, which allows users to watch in Ultra HD on supported devices at a time and download on six supported devices at a time, will. Its basic plan was unchanged.Įxplaining its decision, Netflix provided a statement to CNN that was identical to its comment from October 2020, the last time it raised its prices. The premium plan went up $2 to $20.99 Canadian. In Canada, the price for Netflix’s standard plan also went up $1.50 to $16.49 Canadian. The basic plan went up $1 to $9.99 and the premium plan increased $2 to $19.99 In the United States, the subscription price for the standard plan rose $1.50 to $15.49. Be prepared to pay more for Netflix in 2024 and maybe every year after that. The streaming media company said Friday it is raising the prices on its plans in the United States and Canada. In the letter, Netflix shared its financial goals for 2024, which include price hikes. Your Netflix bill is about to go up again. ![]()
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