Entertainment

Netflix Raises Standard and Premium Subscription Rates

Now users have to pay more to binge-watch their Netflix favorites.

  • Streaming service Netflix is raising standard and premium subscription costs for US users.
  • According to the company, the price hike is necessary so they can “continue to offer more variety of TV shows and films.”

It’s inevitable: streaming giant Netflix is raising its standard and premium subscription rates for its viewers in the United States. According to reports, the standard plan has increased to $15 per month instead of $14. On the other hand, premium subscription rates will now cost $18 per month as it goes up by $2. The basic subsciption will remain the same.

Netflix confirmed that the new rates will be effective immediatelly for new members while current users will be informed via email about the increase on the upcoming months as it starts to apply to them.

A Netflix representative explained:

“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 more variety of TV shows and films.”

In an earlier CNN interview with Rosenblatt Securities senior analyst Bernie McTernan, we learn that the price increase was only “a matter of when not if.”

“It shows they think people will be willing to pay more for the service as the pandemic disrupts content production thus making their vast library more valuable,” he pointed out.

Meanwhile, Netflix chief operating officer Greg Peters shared:

“The core model we have, and what we think really our responsibility and our job is, is to take the money that our members give us every month and invest that as judiciously and as smartly as we can.

“If we do that well… and make that efficiency and effectiveness better, we will deliver more value to our members, and we will occasionally go back and ask those members to pay a little bit more to keep that virtuous cycle of investment and value creation going.”

Watch this report by Yahoo Finance:

Like on Facebook

Leave a Comment

Recent Posts

Fans Use American Flag to Save Falling Cat During Football Game in Miami

•Black and white cat uses one of its nine lives by clinging its paw to…

October 16, 2021

TikToker Shares How She Tricked Invaders Who Tried Opening The Hotel Door While She Was Alone

Someone tried to open the door from the outside. Fortunately, she remembered her dad's tip!

May 31, 2021

5-Year-Old Artist Already Getting Commissioned For Her Paintings

"You know when they say that kids are natural artists? I think she’s the perfect…

May 31, 2021

Burglary Victim Writes Heartbreaking Note Begging Robber To Return Last Photos Dog

“Please. She died a few days ago. I cannot lose those photos as well.”

May 30, 2021

This website uses cookies to ensure you get the best experience.