![]() ![]() That may explain why the company doesn’t want to fixate on those price hikes too much. The hard truth for Netflix is that it can’t keep raising prices without exacerbating those other issues. The streaming giant said monthly charges for its UK basic service would rise by £1 to £7.99 and the premium option will increase by £2 to £17.99. People have a limited amount of money they’re willing to spend on streaming services, and each time the cost of Netflix increases, competing services and password sharing start to look like more compelling alternatives. The monthly cost for the basic plan rose 1 to 9.99, the standard plan jumped from 13.99 to 15.49, and. In the end, this all comes back to price hikes. Netflix last raised its prices in January 2022 and it closed off access to the 9. Netflix raised monthly prices for its streaming service in the U.S and Canada on Friday. But Netflix faces tough competition from rivals, such as Disney+, which has also announced price rises of £2 per month up to £7.99 or £79.90 for a full year. If you’re sharing a password with a friend or family member, I wouldn’t lose much sleep over it right now. Just as garden-variety price hikes might cause customers to flee, draconian account control measures could turn off paying subscribers as well. I suspect this is why Netflix is not moving all too swiftly on the password-sharing front despite its well-publicized experiments, with no plans to expand its crackdown in the United States for another year. A subscriber that shares their password with far-flung family members might be less likely to cancel even in the face of repeated price hikes. Password sharing could also a valuable weapon against churn, as Netflix customers are among the least likely to abandon their subscriptions on a seasonal basis. Some account sharers may not consider a subscription to be worth paying for at any price, and mechanisms to prevent it could also create new inconveniences for paying customers. It’s simply paying more attention now because subscriber growth has slowed, and those 100 million sharers seem like a juicy target for fresh revenue.īut this crackdown will have its challenges as well. The company says that the percentage of people sharing their accounts has not meaningfully changed over the years. Note that Netlfix is not dealing with a sudden spike in password sharing. It briefly tested a system last year that asked users to prove they’re not sharing passwords, and last month, it launched a test in Chile, Costa Rica, and Peru that lets password sharers pay for up to two extra accounts, each with their own profiles. In recent months, Netflix has started formulating a response. In its letter to shareholders, the company estimates that more than 100 million households worldwide are accessing someone else’s account, 30 million of which are in the United States and Canada. For tips on how to save money while making sure you get to watch some of the must-see releases, check out our round-up of how to save on streaming services and find streaming deals.The newly competitive landscape also helps explain why Netflix is now looking to password sharers for a bailout. Its ad-free lowest-priced streaming option will now cost £7. In the United States, the subscription price for the standard plan rose 1.50 to. With some of the biggest streaming platforms raising rates, you may want to check out other options. For Netflix’s most expensive service, the price will go up to £17.99 (20.65) per month in the UK and to 23 (21.82) in the US. The streaming media company said Friday it is raising the prices on its plans in the United States and Canada. How you can save on your streaming services Netflix even held a promotion where subscribers could keep the. The actors' strike is ongoing, but the price hike is here nonetheless. Netflix first increased its price back in 2014 to 8.99, which seems quaint today. The report said that the company was planning to wait until the actors' strike ended and that it was looking at several other markets worldwide. As a refresher, Netflix raised its prices in March 2022, with the Basic plan increasing from 8.99 to 9.99, the Standard plan increasing from 13.99 to 15.49. News that Netflix was planning to raise rates was initially reported in an October 3 W all Street Journal report citing sources familiar with the matter. Both versions of these services with ads remained unchanged at $7.99 per month. The cost of its monthly ad-free Hulu plan also rose to $17.99, from $14.99. In August, The Walt Disney Company announced a price hike for its monthly ad-free Disney Plus plan to $13.99, from $10.99, effective October 12. Last month, Amazon Prime Video announced that its Prime Video streaming service will be getting ads in early 2024, although members can opt for an ad-free version for $2.99 per month. to $8.99, from $6.99, but kept its monthly "ad-light" subscription fee unchanged at $4.99. Discovery hiked the price for its Discovery Plus ad-free monthly subscription in the U.S. ![]() Netflix is the latest streamer to boost prices. ![]()
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