Netflix Prices Are Going Up!
Netflix prices are going up starting next year!
While we’ve enjoyed streaming our television, film, and original content for practically nothing, that enjoyment is about to end. It’s honestly been inevitable but I’m sure that customers will be complaining once again when Netflix starts to raise prices. According to TechCetera News, the price increase was announced by CEO Reed Hastings during a quarterly earnings call.
During Netflix’s quarterly earnings call, CEO Reed Hastings announced that inevitability; Netflix will increase their monthly fee sometime next year. However, the company is remaining careful on its approach, and hoping to convince customers to move to its higher-priced, multi-stream HD and Ultra HD tiers.
I was one of the many complaining when Netflix changed their price model before but this time around I see the logic. Look at all they’ve done thus far! They’ve given us original content that many of us consider to be our favorite series. They aren’t just giving us TV reruns anymore, they’re now a production company. With the success of shows like “House of Cards,” “Daredevil,” and “Orange is the New Black,” they’ve given us content worthy of an increase. In addition to that, they’re now acquiring exclusive rights to theatrical releases and I promise you that it’s not cheap.
With that said, I have the mindset that the price increase will be minimal. Maybe they’ll make a jump from $7.99 to $9.99 which I can tolerate and handle. But if they start moving to a $19.99 model, you might see a few rants going around on social media…haha. Even if a drastic price increase is justified (which it arguably is), Netflix has to be careful about the backlash. Sure they bounced back from the last “boycott” but it did cost them over a million subscribers (temporarily).
At this point though, their stock is booming, profits are high, and they continue to grow. I just hope they remember to be gentle with us loyal customers that have been with them since they were competing with Blockbuster.
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Still cheaper than Cable.
Do you think part of the reason for increasing the prices of Netflix is that users sometimes share the same account?
That plays a factor but Netflix is aware of people sharing accounts and even initially advertised their streaming service as “for the whole family to use.” Just not to the extent that some people have taken things.
I think the price increase came from their loans they’ve taken out to acquire rights to certain film releases and producing their original content.