Movies

Netflix announces price increase for some users

BBG News

It seems that Netflix has decided to raise prices for certain international customers, but so far, it appears that this adjustment hasn’t impacted users based in the UK.

The pricing for our streaming service is scheduled to increase across the United States, Canada, Argentina, and Portugal. Every tier will see an uplift of between one dollar and three dollars.

The price for the standard version with ads has increased from $6.99 to $7.99. The standard version without ads now costs $17.99, which is an increase of $2.50. The premium plan is going up by $2, making it cost $22.99. Lastly, the extra member option will now be priced at $8.99.

In Q4 of 2024, Netflix saw a record increase in new subscribers, gaining approximately 19 million.

This situation can mainly be attributed to occurrences like the Mike Tyson vs. Jake Paul boxing event, the NFL games during Christmas, and the recent resurgence of “Squid Game” in the previous month.

In just four days, the second season of a popular South Korean series set a new record for Netflix by attracting an impressive 68 million viewers, and then in its initial week, it gained almost 60 million more viewers.

During a conference call, Netflix’s CEO, Ted Sarandos, stated through Sky News: “If you’re planning to raise prices, ensure you have the quality content and audience engagement to support your request.

Previously, the streaming service raised its prices towards the end of 2023 in both the United States and the United Kingdom. This move was partially responsible for attracting an additional 8.8 million subscribers due to stricter measures against password sharing.

At the onset of introducing paid sharing features, there was generally no increase in prices. However, our fundamental strategy has remained consistent – offering a variety of pricing options and plans tailored to diverse needs. As we continue to enhance the value we provide to our members, there may be instances where we request them to contribute slightly more. This is what the streamer expressed earlier on.

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2025-01-22 16:18

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