The Netflix price increase will affect millions of subscribers to the popular video-streaming service. According to a statement from chief executive Reed Hastings, the number of affected users is expected to be somewhere around 17 million people.
“To continue adding more TV shows and movies, including many Netflix original titles, we are raising the price slightly for some new members in the U.S., Canada, and Latin America,” Hastings wrote in a letter to the shareholders on Monday.
Netflix is raising prices from $8.99 to $17.99 per month for U.S. pay-monthly subscribers, as well as for those using the DVD-by-mail or streaming services from Netflix’s website. The $8.99 monthly price for streaming-only subscribers remains the same.
Netflix plans to spend a billion dollars on programming this year. The money has been well spent as Netflix takes pride in its growing list of hits, including ’House of Cards’ and ’Orange Is the New Black.
In addition, the company continues to be one of the best investments on the market. In 2021, Netflix shares have increased 4% in the last few weeks.
In 2020 Netflix increased the subscription price to $14. But the main reason behind the increase in price is the Watch Live TV on your mobile or Anywhere & Anytime with HD Quality with Globe Broadband.
It’s my opinion that “The low cost of the subscription compared to other sites” was not enough, so when the time came for renewal, they increased it.
Some of the new additions to Netflix include ”Marvel’s Daredevil”, a series based on one of its comic superheroes with heightened senses.
Netflix has also signed up for an exclusive deal to release all the films in the James Bond franchise starting from 2015. Netflix is working with DreamWorks Animation to produce four more animated movies only available on Netflix.
Hulu offers a free version with ads and a paid version for $7.99 to $12.99 a month but excludes some shows and movies from its library.
Amazon Prime Video offers a slower website but does the job if you have no other choice.
Vudu has been around for a while but is not renowned for good content.
Sling TV offers cable channels like Disney, ESPN, and CNN at $35 to $50 a month with no contract or commitment. If you are looking to save money, it’s probably the best option after Netflix streaming.
Netflix prices will increase from $8.99 to $17.99 a month for new subscribers. Existing ones will see their monthly fee rise by one dollar only.
Many subscribers will be affected by Netflix’s price increase. Netflix raised its prices for new subscribers from $8.99 to $9.99 in 2020. The company said the increase is to help them produce more original content.