What you need to know
- Netflix has raised its prices on Friday for new subscribers.
- Current subscribers will also be affected by the price change "in the coming weeks."
- Plans are going up by $1 to $2 per month depending on the plan.
Netflix raised the prices of its plans on Friday for U.S. and Canadian subscribers in a move that seemingly came out of nowhere.
In a report from Reuters, the company is raising prices from $1 to $2 per month depending on which plan you're on. The basic plan now costs $9.99, with the standard plan and premium plan going for $15.49 and $19.99 per month, respectively. In Canada, the respective prices are $9.99 CAD, $16.49 CAD, and $20.99 CAD.
Netflix didn't immediately respond to our request for comment on the increase. However, a spokesperson explained the increase for
While price increases are understandable given the amount of money spent on licensing and producing original content, it's a bit strange that there wasn't a formal announcement made prior to the increase.
One of Netflix's biggest competitors, Hulu, normally gives customers a month's notice before pricing changes to unto effect. Additionally, this brings the Netflix basic plan in line with HBO Max's ad-supported plan while making it even more expensive than Hulu or Disney+.
While the increase may deter some viewers, others may not mind paying a little more for access to content like "Squid Game," "Don't Look Up," and "Arcane."
With the streaming platform's earnings call scheduled for January 20, we should learn more about the company's motives.
Derrek is a long-time Nokia and LG fanboy who loves astronomy, videography, and sci-fi movies. When he's not working, he's most likely working out or smoldering at the camera.
This is such bull poo... US and Canada prices go up while developing countries go down. We're basically subsidizing other countries netflix subscription costs...
Just search for India price cut for Netflix...
People in developing countries earn less on average than in developed countries like the U.S. and Canada, so this price discrimination is expected, otherwise Netflix wouldn't have any subscribers at all in those places.
I think, if I am not mistaken, for Canadians this will be a double whammy because the DST or Digital Sales Tax (about 3% or so) just which took effect on January 2, 2022. For now it is applied to the gross income of these companies...but I am sure that these most recent price increases is Netflix's way of passing that new tax onto subscribers... That comes on top of the fact that the feds also changed the taxation requirements for streaming services like Netflix, Amazon Prime, Disney, Spotify and the like in July 2021, whereby now all of these companies have to pay the GST/HST (goods and services tax/harmonised sales tax depending on the province or territory), something Netflix for example did not charge before July 2021. So the prices for Canadians had already increased back then. The whole cord cutting aka dumping cable is with the passage of time looking less and less of an attractive option as streaming services costs are going up again and again. Of course no one is forcing consumers to subscribe to all streaming/digital services at once. One can pick and choose, or do short term subscriptions etc. One thing is clear though, just like pretty much other things in our lives... costs are going up and everything is getting more expensive...
Don't understand why this is shocking news. First of all, they're the biggest monopolistic video provider. Second, they have a huge selection. Third, yes, prices go up as the years go passing by. Not just with netflix but with almost all things.
Ok but how is Netflix monopolistic when they have umpteen competitors and more coming every year?
If the price rise in the u.K again, then I will be dropping it like a stone, I use it less than I use other services, so I would not miss it.
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