- Netflix hits subscribers with a price hike
- The company last raised prices in January
- Netflix remains unfazed by the loss of customers
Netflix is one of the most applauded media services across the globe. Recently the company removed its free trial services. After this event, it had to bear the loss of some customers. As of now, you cannot stream Netflix’s library for free.
However, Netflix is not the only company on this list. Disney+ also came out with a similar strategy and removed its free trial services. Compared to other streaming platforms the subscriptions for Netflix is relatively high.
Removing free trials for just a few customers wasn’t a big deal for the company. And one more time the company is set to bring about some great changes in its platform.
In the USA the standard and premium Netflix plans are jumping high for audiences. The new pricing is already in effect for new customers. The existing members will see this rise over the coming weeks. This change is seen when the Apple TV+ is extending its free trial until February.
Price Hikes
The last time the streaming platform raised its price was back in January 2019. However, even after this new round of changes, Netflix’s basic plan remains the same. You can still stream it at $8.99. The standard and premium plans are jumping $1 and $2.
The new standard and premium plans will cost you $13.99 and $17.99 respectively. These changes came in the middle of increased competition in the streaming market. Netflix is bearing stiff competition with the services like Disney+ and Apple TV+.
Amid this, yet another price hike isn’t the news that customers will want to hear. Netflix COO/CPO Greg Peters recently hinted about this price jump.
“The company is investing more into both content and tech developments.
They’ll originally go back and ask to pay a little bit more to keep the virtuous cycle of investment”.
In the past, Netflix CEO Reed Hastings has said the company is okay with losing some customers. They aren’t concerned about such a loss that came due to things like price hike. However, if the company is not worried that doesn’t mean the audience is also not.
