Netflix Raises Prices: What You Need to Know
The Latest Price Hike
The most popular streaming service behind Stranger Things and other hits is raising its prices for the second time in as many years. Netflix announced it will charge users anywhere from $12 to $24 more a year depending on their subscription tier. Even viewers who are already watching ads will have to pay more to see their favorite shows.
Subscriber Growth and Pricing Details
The company announced the price hikes alongside its latest earnings call which revealed there are more than 300 million subscribers to the streaming platform across the globe, including 19 million more users in the last quarter alone. Now they’ll all be greeted by a higher monthly price tag the next time they renew.
Price Changes for Each Plan Tier:
- Standard with ads: from $7 a month to $8
- Standard (no ads): from $15.50 to $18
- Premium (4K streaming): from $23 to $25
“As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix,” the company wrote in its latest earnings report. This is the second time the company’s raised prices in recent years. In 2023, Netflix bumped the discontinued Basic plan from $10 to $12 and the Premium plan from $20 to $23.
Tuesday’s announcement, however, marks the first time Netflix has increased the price of the ad-supported tier since it was introduced in November 2022. The more streaming changes, the more it turns back into regular, pricey old cable TV. The price hikes come after the launch of Squid Game season 2 and a live boxing match between influencer Jake Paul and former heavy weight champion Mike Tyson. Season 5 of Stranger Things, meanwhile, is likely headed to Netflix sometime later in 2025.
Conclusion
In conclusion, Netflix’s latest price hike reflects its continued investment in content and services. While subscribers may need to pay a little more, the goal is to enhance the overall Netflix experience. Stay tuned for more updates as the streaming landscape continues to evolve.
FAQs
Q: Why is Netflix raising its prices?
A: Netflix is raising prices to invest in programming and provide more value to its members.
Q: How much will Netflix’s subscription tiers cost after the price hike?
A: The Standard with ads tier will increase from $7 to $8, the Standard (no ads) tier will increase from $15.50 to $18, and the Premium (4K streaming) tier will increase from $23 to $25.
Q: When was the last time Netflix raised its prices?
A: Netflix previously raised prices in 2023, with the Basic plan increasing from $10 to $12 and the Premium plan increasing from $20 to $23.
Credit: kotaku.com
