Have you been enjoying all the latest content from Netflix? From new shows like One Piece and Lupin to movies including Spider-man: No Way Home and Ghostbusters: Afterlife. Well, be prepared to pay more for the service as Netflix increases its prices once again.
Netflix has been continually adjusting its pricing structure over the last couple of years. There was a price hike in 2021 followed by Netflix price cuts in 30 countries earlier this year. Now, subscribers in the US, UK and France will see a new price hike effective immediately.
The basic plan will rise from $9.99 to $11.99 (£7.99 GBP) while the premium plan will change from $19.99 to $22.99 (£17.99). The $6.99 ad-supported plan and the $15.49 ad-free standard plan both remain the same.
More content more money
The price increase has come as a bit of a surprise. Netflix has been ramping up its monetization efforts, clamping down on password-sharing by charging $5/£5 to add in extra members. This clampdown may have helped the company expand its subscriber base over the summer. It’s reported that 8.8 million subscribers joined between July to September 2023.
According to Netflix, 30 percent of new sign-ups have chosen the cheaper, ad-supported tier where it’s made available.
“While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” Netflix wrote in a statement to shareholders.
It’s not just the latest movies and TV shows subscribers have access to. Netflix has its app-based gaming service which contains over 70 games. This is freely accessible to all subscribers through the iOS and Android apps. The company is planning to expand its gaming library, turning hit shows into videogames.
As Netflix increases prices again are you still willing to pay for its service? Let us know in the comments below.
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