If you’re currently subscribed to Netflix then you should prepare yourself to start paying more for the privilege. Because Netflix is raising the price of two of its three plans in several countries, including the U.S., the UK, France, and Germany. And it’s all about funding more original content.
Netflix is changing. What was once a DVDs-by-mail company has grown into a streaming service that spans the globe. Even its catalog of content has undergone a transformation, with older shows replaced by original content. The problem is, this all costs money. And Netflix users are paying for it.
Your Netflix Subscription Is Getting More Expensive
Netflix has announced it is raising prices in the U.S., the UK, and parts of Europe. Rather unsurprisingly, the company isn’t making a big song and dance about the news, quietly leaking it and not making any executives available for interview. But the price hikes are definitely happening.
The Basic plan, which offers 1 stream and SD content, is staying the same. The Standard plan, which offers 2 streams and HD content, is rising from $9.99- to $10.99-per-month. And the Premium plan, which offers 4 streams and 4K content, is rising from $11.99- to $13.99-per-month.
Netflix issued a statement with Mashable, saying: “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.”
These price hikes are sure to raise eyebrows amongst some Netflix subscribers. However, it’s important to remember that it has been two years since Netflix last raised its prices, even though these didn’t kick in for existing subscribers until 2016. So this is hardly an annual tradition.
Netflix Still Represents Good Value for Money
Even after these price hikes Netflix is still good value for money. However, if these price rises continue there will come a point when public opinion changes. And if that happens it won’t matter how many unmissable original shows Netflix is producing, people will cancel their subscriptions.
Are you currently subscribed to Netflix? If so, which plan are you on? What do you think of the forthcoming price rises? Are they justified given Netflix’ current catalog of content? Does Netflix still represent good value for money? Please let us know in the comments below!
Image Credit: Jenny Cestnik via Flickr