Netflix Hikes Subscription Prices: What You Need to Know
Netflix has officially announced a price increase for its subscriptions in several countries, including the United States, Canada, Portugal, and Argentina. According to the latest earnings report, this price hike is crucial for the streaming giant to continue investing in high-quality content and enhancing its platform services.
New Pricing Structure
Following the price increase, the standard ad-free plan will now cost ₹1,499 per month, up from ₹1,299. The ad-supported plan will see a rise to ₹649, up from ₹599. If you’re on a premium plan, brace yourself for an additional ₹200; it will now cost ₹2,999, up from ₹2,799.
Subscriber Growth Amid Price Hikes
Interestingly, despite frequent price increases, Netflix continues to witness impressive subscriber growth. The company added 19 million new subscribers in the last quarter, bringing its total subscriber count to a staggering 300 million. This growth comes even in the face of increased competition in global markets. However, Netflix has announced that it will no longer provide quarterly updates on subscriber growth, opting instead to focus on significant milestones.
Focus on Quality Content
The price hike strategy is designed to maintain Netflix’s commitment to high-quality content. The streaming service plans to enhance its content library to remain competitive in the rapidly growing streaming market. Notably, Netflix accounts for less than 10% of TV viewing in its operational markets, which suggests ample room for future expansion as streaming adoption increases worldwide.
New Features on the Horizon
In addition to the price increase, Netflix is introducing a new Extra Member with Ads program. This plan allows users to add an additional person outside their household for an added fee. To attract more users, the platform will focus on popular titles like Squid Game and Arcane, as well as live event programming, including special sports events and NFL games.
Stay updated with the latest deals and offers by checking out Looffers.com.
