Netflix is increasing prices internationally again. The streaming company confirmed in its third-quarter earnings report that while the password-sharing crackdown initially troubled its customers, it has paid off in the long run, with the company adding 8.8 million new subscribers. This brings the total number of Netflix members to 247.15 million, a huge jump from the 238 million reported in July. Starting today, prices will increase for basic and premium plans in the US, UK and France. A report earlier this month suggested a rate hike was imminent, although it was expected to come after the ongoing Hollywood actors’ strike ends.
“When we offer members more value, we occasionally ask them to pay more,” Netflix said in a prepared statement. edge). “Our starting price is very competitive with other streaming platforms, such as $6.99 per month in the U.S., which is well below the average price of a single movie ticket.” We’ve seen this with other streaming platforms as well In an emerging trend, Disney+ and Max (formerly known as HBO Max) have raised costs to curb financial losses, and the former, like Netflix, limits account sharing between users by constantly monitoring their activity. Netflix’s last recorded price increase was in January 2022, with small monthly increases of about $1 to $2. The price increase this time is similar.
Back in July, Netflix had scrapped its basic ad-free subscription plans in the US and UK, giving new, budget-conscious subscribers the option to watch ads or just watch expensive ads worth $15.49 (roughly Rs. 1,290). – Free plan. But now, the price of this basic, ad-supported plan (which is still available to old users) has jumped from $9.99 (approx. Rs. 832) to $11.99 (approx. Rs. 998) in the US. Meanwhile, the premium plan, which offers 4K Ultra HD visuals on up to four devices at a time, is priced from $19.99 (approx. Rs. 1,664) to $22.99 (approx. Rs. 1,914). Standard plan prices remain unchanged in all regions. During the earnings call, it was also revealed that Netflix will cancel basic plans in Germany, Spain, Australia, Mexico and Japan next week.
In the UK, the basic plan price has gone up from £6.99 (roughly Rs. 705) to £7.99 (roughly Rs. 807), while the premium plan has gone up from £15.99 (roughly Rs. 1,614) to £17.99 (roughly Rs. 1,816). . Customers in France will see the basic plan go up to €10.99 (approximately Rs. 964) and the premium plan to €19.99 (approximately Rs. 1,753). It’s unclear if this Netflix price increase is final, or if the company still has plans for when the cast strike finally ends – given there are still plans for global spread.
Netflix currently has a steady slate of content planned to be released as a reason for price increases, and sees the “One Piece” live-action series as a major contributor to its subscriber growth. The adaptation was recently renewed for a second season. In November, the streamer will host its first live sports event, the Netflix Cup, in which a group of F1 drivers and professional golfers team up for an eight-hole match.Next up is David Fincher’s critically acclaimed film killer Published on November 10, followed by scott pilgrim The anime will air on November 17th, and the Squid Game live-action show will premiere on November 22nd.
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