Netflix is raising its price for both, standard and premium services. This was the first time in past two years that the rise has taken place. If you’re someone who has already subscribed to the online streaming portal then the changes in your bill will not take place immediately.
The good news is for individuals who have subscribed to basic services (NFLX, Tech30 which enables the user to stream only on one screen) that there will be no changes in their monthly plan. They will pay $7.99, just like they were initially.
For users who have subscribed to standard services, now have to pay $10.99/monthly instead of $9.99/monthly. The standard services enable users to stream movies and TV shows on two screens at the same time.
For premium customers, the raise would be $2. Initially, the users paid $11.99/monthly for streaming HD movies and TV shows on four screens at a time, but now have to pay $13.99/monthly. The premium customers also have access to ultra HD content which I believe is a plus point.
The price increase has taken place in the U.S. on the 5th of October. However, other users around the globe will be notified regarding the increase based on their cycle of billing. Not just that, the customers will also be given 30 days’ notice before any official changes will be made.
Reportedly, the company will start notifying its customers from 19th of October. However, many of its customers are confused regarding the increase. The official statements say that the increase in price is a result of company’s approach in investing into original programming.
For the year 2017, Netflix has signed deals worth $6 billion. We know for sure that it is only climbing up from here for the organization. Up till now, around $15.7 billion has been invested in online content.
This is not the first time that Netflix has increased its price. A year ago, the company raised the prices of its standard services to form $8.99/monthly to $9.99/monthly.
Explaining the increase further, the official statement says, “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.”
The company exists since a while and was active. Initially, the company dealt with DVD sales and rental. In the year 2007, Netflix understood the new world order and switched to the WWW. The expansion resulted in better reach.
Later, the online stream service was demanded by the world. In the year 2010, Netflix was available in Canada. It has been since then the organization has been expanding and collecting bigger numbers around the world.
The company later invested in the content production industry in the year 2013 debuting with Netflix’s original series, House of Cards. Since then, it has been producing films and TV shows and exhibiting them online on their portal. Netflix has around 103.95 million subscribers up to date out of which 51.93 million are Americans.
Stay tuned more news and updates.