Netflix is boosting costs again
Netflix is confronting a fair amount of competition nowadays, which implies they have to discover better approaches to get more cash-flow. You would think all their blockbuster movies would be sufficient, yet no. Presently, as per CNN, Netflix will be raising its subscription costs. The streaming giant is expanding the costs on its standard and premium plans for US clients. The standard plan is at present $14 per month, which is a dollar more than a year ago. The premium subscription is present $18 every month, up to $2. The essential plan, notwithstanding, stays at $9.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson wrote in a statement. “We’re updating our prices so that we can continue to offer more variety of TV shows and films.”
“The price increase was a matter of when not if,” McTernan stated to CNN Business. “It shows they think people will be willing to pay more for the service as the pandemic disrupts content production thus making their vast library more valuable.”
With Disney+, Amazon Video, Apple TV, Hulu, and HBO Max rapidly tearing into Netflix’s once sacred stream base, it makes sense why the monster would build costs. Notwithstanding, we should check whether it harms their subscription numbers.