Binge-watching Arrested Development just got a little more expensive, we’re afraid… yet again. Per reports, Netflix has raised the monthly price of most of its subscription plans in the U.S. and Canada. The move comes, Variety suggests, as “the streamer looks to generate more revenue from a slower-growing base of customers.”
Notably, the platform is expecting to have its best year yet in the 2022 film awards season, with red-hot titles like Jane Campion‘s The Power of the Dog and Paolo Sorrentino‘s The Hand of God leading a charge set to reap dividends. So we guess it’s time for the streaming of artsier fare to get that bit more taxing, too.
The price increases, announced today, will see Netflix’s standard plan go up by $1.50 in the United States to $15.49 per month. In addition, the slightly swankier premium plan – with four streams and the offer of 4K Ultra HD content, for those of us out there with the snazziest widescreens – is getting hiked up by $2, to $19.99 per month. The basic plan is going up to $9.99 per month, the slightly less egregious increase of just a buck.
“Current members will receive an email notification 30 days before their price changes, unless they change their plan,” a message on Netflix’s customer support site says. The change applies for all new members and will take effect for all current subscribers gradually.
In Canada, prices were increased proportionately to their neighbors below the border: the standard package increased by $1.50 CAD to $16.49 CAD per month, and the premium plan rose by $2 CAD to $20.99 CAD per month. The basic plan, however, went unchanged. Isn’t that generous?
A Netflix rep said the following in a statement to Reuters:
“We understand people have more entertainment choices than ever, and we’re committed to delivering an even better experience for our members. We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans, so members can pick a price that works for their budget.”
The increases are the first since October 2020 for customers in the U.S. and Canada, and Netflix’s third in three years. The streamer has come under pressure for its price hikes previously, with derision coming from the customer base and critics alike. In the third quarter of 2021, Variety reports, Netflix netted just 70,000 streaming subscribers in the U.S. and Canada. With such a small rise in the subscriber base, such a price hike strikes as odd.
Netflix is set to report results for Q4 2021 next Thursday, at market close.
Even with the price increase, Disney+ is still one of the most affordable streaming services on the market.
About The Author
Denial of responsibility! News Verve is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – email@example.com. The content will be deleted within 24 hours.