Many people have used streaming services including Hulu and Netflix to stop spending money on cable. It’s understandable for people to try and reduce excess spending wherever possible. Certain people looking to save money might be irked to hear that Netflix is planning to increase prices for their monthly services. In this post, you’ll learn more about the new Netflix price increase.
Many experts feel that Netflix’s new price increase is justified and won’t likely be the last one to occur. Major streaming services are known to have massive amounts of digital content. These experts feel a price hike isn’t likely to have many customers canceling their streaming services when considering the content they receive. Many streaming providers are now producing their own original movies and shows, creating more content for users to enjoy.
One example of price raises occurring over time has been seen with Hulu. In the beginning, Hulu offered its main streaming service for $7.99. Currently, subscribers need to pay $11.99 monthly to view content without commercials. Viewers wanting to access content while watching commercials must pay the original $7.99 price. Netflix did see a slight decrease in new subscribers when it unveiled its most recent price increase two years ago. Netflix executives are reported to feel positive that the latest price increase should go smoothly.
The new increase will raise the base Netflix plan from $9.99 to $10.99 per month. Premium Netflix users paying $11.99 for access to four screens will see a two dollar price raise for their services. USA Today reports that people are expected to spend $10.9 billion on streaming services by the end of 2018. Certain people feel that the wide range of streaming services and their tiered plans are becoming closer to major cable companies.
In summary, Netflix has announced plans to impose a new price increase. Experts feel that the price increase is justified and shouldn’t see many subscribers canceling their services. Many streaming services, including Hulu and Netflix, have raised prices in the past. The base Netflix plan will increase by one dollar per month while premium users will see a two dollar increase per month.