In a well-developed and competitive market, American subscription streaming service, Netflix increases its prices in the US. Well, the sole driving force behind Netflix price hikes is just to make more money.
However, Netflix spokesperson said to Reuters, “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options,” “As always we offer a range of plans so members can pick a price that works for their budget.”
Netflix price hikes begin from its basic plan, which rises up to $10/month from $9, where the standard plan rises to $15.50/month from $14, and $20/month from $18 for its 4K plan. The recent Netflix price hikes aren’t happening in the US alone, also rising in Canada as well.
Tho, Netflix is obviously increasing its user’s engagement in the US, within the last period of time, the company had a successful wealth of subscribers across the US, but the challenging theme here is to add more movies, even after launching some incredible services.
New Netflix Price hikes in the US
|Price||Jan 2022||Oct 2020||Jan 2019||Oct 2017||Oct 2015||Apr 2014||Apr 2013||2011|
|Premium (4K, 4 screens)||$19.99||$17.99||$15.99||$13.99||$11.99||$11.99||$11.99||N/A|
|Standard (HD, 2 screens)||$15.49||$13.99||$12.99||$10.99||$9.99||$8.99||$7.99||$7.99|
|Basic (No HD, 1 screen)||$9.99||$8.99||$8.99||$7.99||$7.99||$7.99||N/A||N/A|
Within the US, Netflix is in a momentous and significant competition with other streaming services such as Disney Plus, Amazon Prime Video, and HBO Max. However, to keep and attract new subscribers, head the competition, Netflix has been spending big on content to keep up.
Concerning the Netflix prices hikes in the US, this isn’t the first time for the streaming service, started right from when Netflix announced its first wide-scale price increase in 2014 and was even afraid of losing subscribers to its $1 price hikes, that it lets existing members keep their price for two years.
Netflix also raised prices in 2017 and 2015, from $13 to $11 in 2019, and the previous Netflix price hikes were around late 2020 when the streaming service increased the standard plan up to $14 per month from its usual $13.
Still, on the price hikes, Netflix isn’t the only streaming service that’s involved. One of its biggest competitors Hulu also hiked the price of its ad-supported and ad-free tiers by $1 per month in October. Nevertheless, users are seriously concerned with the constant Netflix hikes.
Netflix promises that changes will be rolled out “gradually,” for the existing subscribers. It is quite different for new subscribers, as the new Netflix price hikes go into effect immediately. However, Netflix also mentioned that members will receive an email 30days before the price hike goes into effect.