They've been alternating between January and October price increase announcements since October 2017. It's looking as though Netflix is increasing prices on a certain schedule. The ad-supported tier price will remain the same at $6.99 per month, as will the $15.49/month Standard plan. In the United States, the price of the Basic plan will increase from $9.99 to $11.99 per month, while the price of the Premium plan will increase from $19.99 to $22.99 per month. Netflix says that cancel reaction to the password sharing limitation "continues to be low," exceeding its expectations. Subscriber growth comes after Netflix began cracking down on password sharing between households. Revenue came in at $8.54 billion, up from $7.9 billion last year. Netflix said that it added 8.8 million new subscribers, up from 2.4 million new subscribers in the year-ago quarter. Netflix announced the price hikes in its earnings call for the third quarter of 2023, which took place today. The $15.49 Standard plan and the ad-supported plan are limited to 1080p. The Premium Netflix plan is the only plan that provides access to 4K video streaming and spatial audio. Netflix no longer offers the Basic plan to new subscribers in the United States, but prices will presumably increase for existing subscribers. Prices will be going up for the Basic and Premium plans in those three countries. While affordability remains a primary concern for consumers, Netflix's pricing strategy also aims to balance accessibility with content acquisition and profitability.Īs the streaming industry continues to evolve, it will be interesting to observe how Netflix adapts its pricing model to maintain its global dominance while catering to the diverse needs and preferences of its audience.Netflix today said that it is increasing the cost of some of its subscription plans in the United States, the UK, and France. The global landscape of Netflix subscription costs reflects a complex interplay of economic factors, market dynamics, and content licensing agreements. Currency Fluctuations: Currency exchange rates can impact Netflix's pricing model, leading to occasional adjustments or fluctuations in subscription costs.Countries with higher licensing fees may experience higher subscription costs.
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