Monday, 23 July, 2018

Netflix Quietly Raises Its Subscription Prices

Image Netflix Image Netflix
Kayla Schwartz | 05 October, 2017, 18:13

Netflix will be raising prices for its United States subscribers starting on October 5, the company confirmed to Business Insider on Thursday. The streaming service still offers a lower price than HBO Now ($15 per month), but the premium plan now surpasses the monthly cost of Hulu Plus ($11.99 per month). Subscribers of the standard $9.99 service will soon be charged $10.99, and the price of the premium tier will rise from $11.99 to $13.99. This summer, Canadian Netflix subscribers saw both the basic and standard tiers go up one dollar, to $8.99 and $10.99, respectively.

Netflix NFLX has been investing heavily in original and exclusive access to content, pushing its costs ever higher. In a recent interview with Variety, Netflix's chief content officer Ted Sarandos said the company plans to spend around $7 billion on content in 2018, up $1 billion from its spending in 2017.

Given the huge amount of competition in streaming, small but steady price hikes for customers are basically a given. Funding its own original productions is not cheap, and Netflix has made big moves recently, like poaching TV power player Shonda Rhimes from ABC, and buying comic-book publisher Millarworld.

Wife of West Tennessee man killed in Las Vegas attack speaks out
A West Tennessee man was one of at least 59 people killed in the mass shooting at a country music festival in Las Vegas on Sunday. But I have a very supportive family and so does he and you have to get through this, our community has to get through this.

Netflix plans to roll out the price increase in November for existing subscribers and is set to publicly announce the price increase to customers later this month.

Netflix says all subscribers will be notified at least 30 days in advance of their account's increase, based on their billing cycle, USA Today reports.

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