In today’s quarter earnings results, Netflix announced that they were on course to still make a bunch of money. Naturally, this means that they want more of yours as a result.
Announced in that same report, Netflix announced that they will be raising the price of their Basic plan to $11.99 (previously $9.99) and the Premium plan to $23.99 (previously $19.99). Luckily, if you’re paying for ads, your price will stay the same at $6.99. And it’s not just the US because France and the UK are going through it as well.
The last time Netflix raised their prices was in March of 2022 where they raised the Premium price then along with their Standard plan to $15.49. This is also when they stopped offering the Basic plan to new or relapsed subscribers forcing them to either pay and have ads or go with the more expensive Standard plan.
As we deliver more value to our members, we occasionally ask them to pay a bit more. Our starting price is extremely competitive with other streamers and at $6.99 per month in the US, for example, it’s much less than the average price of a single movie ticket.”
Netflix wrote in its letter to shareholders
The issue with this statement is when I go to a movie theater, the most ads I have to sit through are the weird ads before the lights dim and the movie trailers before the actual movie. Also, if you weren’t lining your pockets with more of my money and actually pay your writers (which luckily you now are) and your actors (which you actively aren’t), maybe I wouldn’t mind an increase.
Speaking of actors, The Wall Street Journal, earlier this month, had broken the news that Netflix was going to raise subscription prices after the SAG-AFTRA strike ended, seemingly passing on the costs to the consumer instead of them taking the money out of the executives pockets, but it seems like they really couldn’t wait for that.
Source: The Verge