- Netflix plans to increase their streaming services’ price globally, starting with the US and Canada and likely after the actors’ strike ends.
- Netflix revolutionized the way people consume media with their ad-free streaming service, providing control and convenience to viewers.
- Despite not all of their original content being successful, Netflix’s track record and convenience factor may justify a price increase post-strike, but they need to ensure it remains reasonable for subscribers.
With the actors’ strike approaching the rearview mirror, it appears Netflix has some plans for the future. Once the actors’ strike ends, Netflix plans to increase their streaming service’s price.
Netflix reportedly plans to increase its monthly prices worldwide, starting with the U.S. and Canada. However, how much Netflix plans to praise its cost hasn’t been specified. That said, since its appeal is being ad-free, it may be an expensive uptick.
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The Wall Street Journal provided the latest on what Netflix’s plans are shortly. “Netflix plans to raise the price of its ad-free service a few months after the continuing Hollywood actors strike ends, the latest in a series of recent price increases by the country’s largest streaming platforms,” The Wall Street Journal reported. “The streaming service is discussing raising prices in several markets globally but will likely begin with the U.S. and Canada, according to people familiar with the matter. It couldn’t be learned how much Netflix will raise prices by or when exactly the new prices will take effect.”
Netflix effectively changed the game when it invented the notion of a streaming service. Beforehand, people would go out to rent movies or TV Shows from the likes of Blockbuster or any local rental store. Netflix made it so that people could not only have that right in front of them but ( were they interested in watching a TV show) they could watch as much as they wanted without having to stop. The absence of ads made the experience better. Having that much control at their fingertips made getting a Netflix account all the more appealing, and it’s why other entertainment conglomerates more or less borrowed their idea for their benefit shortly after the phenomenon spread.
While Netflix has allowed viewers to stream popular shows for as long as they’d like, it’s also given their customers quite a bit of original content over the years. From The Unbreakable Kimmy Schmidt to the popular Stranger Things to Ozark, Netflix has shown that it can make good content for its viewers. Sure, not every show or movie Netflix made has been a hit, but it’s still well-received enough to the point where it continues to make more. Netflix has even delved into additional subjects like true crime (Making a Murderer) and sports (Untold).
While fans will probably not be too happy knowing that their prices will go up after the actors’ strike ends, they can’t be too surprised, considering what Netflix can offer them. Sure, some of its content, like Netflix action movies, doesn’t always resonate, but the convenience it gives to its audience makes executives believe that a price spike is warranted. The real question will be whether the price is reasonable enough to motivate their audience to stay subscribed.
Netflix can currently be streamed for $15/monthly in the U.S.
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Source: The Wall Street Journal