The streaming service monster Netflix will be putting a hole in the pocket of all of its subscribers. Recently they announced that they will be raising the prices for it’s service. Again.
The Wall Street Journal reported that the basic Netflix plan will rise from $8 to $9. The HD play will go up from $11 to $13 a month. Finally, the most expensive plan, the 4K Premium, will increase from $14 to $16. This increase in price is effective immediately.
The last increase in price was back in 2017.
As usual when these type of increase arises, the company has some words to justify it’s new price for their service.
“We are changing pricing from time to time as we continue investing in great entertainment. Also we are improving the overall Netflix experience for the benefit of our members”, stated a Netflix spokesperson.
One of the other possible reasons for this price increase could be for this new ‘streaming service war’ that is on the horizon. Now that Disney will launch it’s own service this year, Netflix might see this as a big competition. Let’s not forget that HULU and Amazon have their own service too. Lately, both have been focusing on original content and that is huge.
Unlike other times when the service has mentioned that they would increase their prices, the company did not sent an email to announce their new price range. This could be considered a risky move since Netflix usually keep it’s subscriber informed in all of the changes that are made constantly in the service.
With these new and sudden increase in prices the company could a few hundreds (maybe thousands) of subscribers. The question will be is how the company would do to try and retain those customers?
Will you stay with the service even with this sudden price increase?