Netflix Implements Price Hike: Netflix, a major streaming service, has raised its US subscription costs. This follows the platform’s password-sharing crackdown. The price changes reflect Netflix’s strategy to offer added value to its members.
The basic tier now costs $11.99 per month, up $2 from $9.99. First time Netflix has offered a plan beyond $20. The premium tier now costs $22.99 per month instead of $19.99. The ad-supported service stays at $6.99 per month, and the standard subscription stays at $15.49.
Netflix executives clarified the reasoning behind these adjustments. They noted that the company had “mostly paused price increases as we rolled out paid sharing.” However, in their pursuit of providing enhanced value to members, they occasionally find it necessary to request a bit more from subscribers.
In an ever-evolving streaming landscape with a multitude of services to choose from, it’s essential to stay informed about the pricing and ad models offered by each platform. Here’s a comprehensive overview of how major streaming services stand on pricing this fall and a comparison of their subscription costs:
– Netflix: Offers a basic tier at $6.99 per month with ads, a standard plan without ads at $15.49 per month, and a premium plan without ads at $22.99 per month. It’s worth noting that Netflix introduced an ad-supported tier last year, which includes approximately four to five minutes of commercials per hour.
– Disney+: Disney’s ad-free plan price increased to $13.99 on October 12, while the ad-supported plan remained unchanged. Disney also offers bundle options with ESPN+ and Hulu, and they are set to implement restrictions on password sharing in Canada, with potential expansion to the U.S.
Also Read: Netflix Boosts Prices And Gains Subscribers: Strikes Fail to Diminish Streaming Giants Success
– Hulu: Offers a basic tier with ads for $7.99 a month and raised the price of its ad-free option to $17.99 on October 12. Hulu also provides a bundle with Disney+ and ESPN+ for $12.99 a month.
– Amazon Prime: The standalone video service costs $8.99 a month. Notably, Amazon Prime members who use Prime Video are expected to encounter ads starting next year, requiring an additional $2.99 per month for an ad-free experience.
– Max (formerly HBO Max): Prices for the ad-supported tier have remained unchanged, while the middle and ad-free tiers saw a modest increase from $14.99 to $15.99 per month.
– Apple TV+: Apple’s streaming platform is priced at $6.99 a month without ads. It recently expanded its offerings with Major League Soccer’s Season Pass, allowing customers to watch MLS games and the prominent soccer figure Lionel Messi, who joined the league this year.
These changes in pricing models and offerings are indicative of the dynamic and competitive nature of the streaming industry. Subscribers must stay informed and adapt to these shifts to make informed choices that align with their viewing preferences and budget considerations.
Our Reader’s Queries
Is Netflix raising prices again 2023?
In January 2023, Max, owned by Warner Bros. Discovery, raised its prices by $1 a month, following in the footsteps of its competitors. This was the first-ever price hike for the streaming service. Hollywood studios are increasingly demanding higher fees from streaming services for their content, as production costs continue to rise.
Why is Netflix increasing prices?
As our library of TV shows, movies, and games expands and we introduce fresh product features, our plans and prices may shift. We may also modify our plans and pricing to adapt to local market fluctuations, such as changes in local taxes or inflation.
Did Netflix raise prices and add subscribers despite strikes?
Netflix’s latest earnings report revealed a surge in its global subscriber base, which now stands at 247 million as of September. The company witnessed significant growth in Europe, the Middle East, and Africa, where it added almost 4 million new subscribers. Along with this, the report also announced price hikes, which could impact the streaming giant’s revenue in the coming months.
How much is Netflix new price?
Netflix offers three subscription plans: Standard With Ads, Standard, and Premium, with monthly costs ranging from $6.99 to $22.99. The Basic plan, which used to be a popular choice at $9.99, is no longer available for new or rejoining members.