Many have made their cable bundle a thing of the past and opted in to something a bit more accessible, personalized and, well, cheap!
Recently Netflix announced a price increase for its premium and standard accounts. Where consumers once paid $12.99 per month for the use of two simultaneous high definition screens, they are now expected to pay $13.99 per month (+$1). For the premium plan, subscribers can now expect to pay $17.99 per month (+2), which includes the use of the app on up to four screens in ultra HD. The standard account remains at the same price of $8.99 with the use of one screen in 480p.
In a statement to USA TODAY a Netflix spokesperson stated: “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 more variety of TV shows and films – in addition to our great fall line up. As always we offer a range of plans so that people can pick a price that works best for their budget.”
Despite the statement users were still raising eyebrows about the motive of the price increase, believing the quarantine skyrocketed their sales. Reportedly Netflix still fell 12% shy of it’s subscriber quarter goals.
They also added that “Current members will be notified through email and will also receive a notification within the app 30 days ahead of their price increase…. Timing will be based on the specific member’s billing cycle and will be rolled out over the course of the next two months.”
Will this price change cause you to swap out your streaming provider?