Friday, 20 October, 2017

Netflix Quietly Raises Its Subscription Prices

HBO CEO Throws a Punch – Slams Netflix's Library of Original Content, “More is not better, only better is better” Netflix Quietly Raises Its Subscription Prices
Theresa Hayes | 06 October, 2017, 00:24

With the Stranger Things 2 set to debut on October 27, Netflix confirmed to Business Insider this morning that it's raising prices of its standard subscription plan from $9.99 to $10.99.

The price of the basic plan, which costs $7.99 monthly and delivers standard definition video to one screen, remains the same.

The "Standard" plan, which allows users to watch HD content on two screens at the same time, will increase from $9.99 to $10.99 per month, according to Fortune.

Wall Street appeared to approve of the move, as Netflix shares were up almost 4% to $191 apiece in midday trading.

The lowest tier subscription is staying at $7.99 a month.

Netflix believes its price rate is justified by recent service improvements, such as a feature that allows people to download shows onto phones or other devices to watch them offline.

The price increase was limited to the United States and a handful of European countries including France, Britain and Germany, Netflix said.

The cost of the popular streaming service is about to go up, but how much? Originally, customers using the top-tier service paid $11.99 a month to stream high-resolution content on four devices simultaneously.

Netflix's stock is popping, along with the price of its subscriptions. Netflix told Mashable that it occasionally raises prices in order to add more content and features to the platform.

Netflix is cheaper than many of its competitors despite the current price hike.

With the price increases, Greenfield expects Netflix's global subscriber growth to slow "modestly" in 2018 (with 20.2 million net new subs vs. 20.9 million projected for 2017) and then re-accelerate in 2019 to 21.1 million net adds.

All your favourite Netflix shows are about to come at a higher price.

Netflix and rival Amazon Prime have been pumping money into original shows to win fans and set themselves apart in an increasingly competitive bid for viewers' time.

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