Netflix raises its US pricing to deliver "more entertainment choices"
Will the UK soon be seeing a similar price increase?
Published: 15th January 2022 | Source: Netflix |
Netflix raises its US pricing to deliver their subscribers a larger range of content
Netflix has announced that they are increasing their US and Canadian pricing, stating that their price increase will allow them to pay for more content and allow them to better compete within the steaming market.
In the US, Netflix's pricing will increase by $1 to $$2 per month, depending on your subscription tier. For Netflix's standard plan, pricing will increase from $13.99 per month to $15.49 per month, their basic plan's price will increase from $8.99 to $9.99 and their Premium plan will see its pricing rise from $17.99 to $19.99. At this time, Netflix has not revealed a similar price increase for their British or European users.
Recent years have seen increased competition within the TV streaming market, with services like Apple TV, Disney+, Amazon Prime, and others investing billions into new programming. Netflix needs a steady stream of new content to compete with its rivals, justifying their latest price increase by promising users "more entertainment choices" and "an even better experience for our members".
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.
Now, Netflix's basic package costs $8.99 in the US, which is the more expensive than Disney+, which costs $7.99 per month and $79.99 per year. Note that Netflix's basic plan doesn't even offer users access to HD streams, never mind 4K content, whereas Disney + offers users 4K HDR content without premium pricing.
Netflix remains dominant within the global streaming market, and its increased pricing is unlikely to cause the company's subscriber numbers to drop. Some users on higher cost packages may move down a tier, but Netflix is unlikely to lose any money from this price increase.