Without changing its basic subscription, the subscription streamed at DVD quality 480p and restricted simultaneous streaming to a single device. It is still 9 dollars a month.
Current subscribers will not see their bills go up immediately, but the respite will not last long.Already subscribedUsers with standard or advanced software packages will receive email and application notifications 30 days before the price increase according to their billing cycle. Anyone who has not previously subscribed to Netflix and signed up immediately must pay the higher fee immediately.
Investors and analysts generally expect that price increases may be welcomed by certain subscribers, and investors and analysts generally expect that price increases will occur sometime in 2020 or 2021. Netflix has pushed Canadian prices higher earlier this month, which heralds a US price increase. Netflix also tends to increase its prices about every two years. The last time Netflix raised prices in the U.S. was, The monthly cost of the standard and premium subscriptions has increased by $2, while the cost of the basic plan has increased by $1.
A Netflix spokesperson said: “We know that people have more entertainment options than ever before, and we are committed to providing our members with a better experience.” “We are updating the prices so that we can continue to provide more TV shows and movies-in addition to our excellent fall product lineup. As always, we provide a series of plans so that people can choose the most suitable price for their budget.”
Netflix’s content budget is a staggering $17 billion. Even if the coronavirus has disrupted film and TV productions around the world, Netflix still hopes that the shows released this year will proceed as planned. The company expects to release more movies and shows in 2021 than in 2020.
The latest price increase of Netflix comes after the media and technology giants launched many new streaming competitors last year, a period known as the streaming war.New competitors-including HBO Max, NBCUniversal’s Peacock and-Prices vary greatly, from free packages to $15 per month.
However, the size of Netflix’s later catalogues and the company’s frequent releases of new shows and new movies dwarf its new competitors, prompting some analysts to believe that Netflix’s pricing is too cheap.
The pandemic has also stimulated the growth of Netflix subscribers, as the virus began to lock in the world and trap people at home with less entertainment. As Netflix predicts, this growth rate has slowed significantly in the past few months, because it is assumed that people who subscribed later this year only signed up earlier in the lock-in period.
Now, Netflix is betting that people will continue to flock to its service, even if its price is a dollar or two higher.