In the US, Netflix remains the leading force in video streaming, despite increased competition from companies like Disney Plus and HBO Max. ‘ Netflix’s pricing hike could be explained in part by an increase in overall multimedia consumption caused by the current pandemic.
A basic plan now costs $9.99 (up from $8.99), an HD plan costs $15.49 (up from $13.99), and a 4K plan costs $19.99 (up from $17.99). However, Netflix has vowed to notify current customers 30 days in advance of the price increase. Prices in Canada have risen at a similar rate, and the basic package now costs CAD 16.49. (up from CAD 14.99).
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson said.
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Netflix pricing hikes have become almost routine at this point. In 2014, the basic plan cost $7.99, then increased to $8.99 in 2019. The standard (HD) version was first released in 2011 for $7.99, then raised to $8.99 in 2014, $9.99 in 2015, $10.99 in 2017, $12.99 in 2019, and $13.99 in 2020. The 4K tier began at $11.99 in 2013, and has since increased to $13.99 in 2017, $15.99 in 2019, and $17.99 in 2020.
If you want to know how many people are subscribed to Netflix, the company will release its next report on Thursday. There will be about 8.5 million new customers from October to December. Thomson Reuters I/B/E/S data shows that 222 million people around the world now use the company’s service.
