The streaming giant, Netflix, has announced an upswing in pricing but with a twist - not everyone will feel the impact. As of October 18, Netflix has ratcheted up the costs of its basic and premium subscription plans in selected regions, particularly the US, UK and France, but for a large number of its userbase subscribed to the standard plan, the price remains the same.
For the American viewer, a noticeable rise is evident in the change from $9.99 to $11.99 per month for the basic plan. Moreover, individuals subscribed to Netflix's premium offer will witness their monthly subscription bill escalate from $19.99 to a new apex of $22.99.
UK viewers have a similar experience. The basic Netflix subscription, now unavailable to potential new subscribers, has soared from its previous cost to a staggering £7.99 per month. The premium grade has jumped up peaking at £17.99 per month. Similar increases are encountered by Netflix subscribers in France, where the basic and premium plans now cost €10.99 and €19.99 per month.
Interestingly, the vast majority of Netflix's patronage will likely remain unaffected by these changes. As it stands, those on the standard package, which enables streaming up to 720p on one device, have not been subjected to any price modifications. The premium plan, expectedly a notch higher, allows streaming in Ultra HD on up to six devices simultaneously.
The fresh round of price hikes follows on the heels of similar increases implemented by Netflix during the early months of 2022 that impacted their basic, standard, and premium packages across an array of regions. It's imperative to mention that Netflix also imposed a stringent measure against password sharing during the same period, compelling users located in different households to subscribe to individual accounts. However, to soften the blow, the streaming service innovated a refreshing new feature, the Profile Transfer, permitting Netflixers to maintain their personalized profiles.
In a letter addressed to the shareholders, Netflix clarified its policy regarding price increases. "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 stated.
For those users who are contemplating sticking around with the streaming service despite the recent changes, Netflix's array of diverse content might be their silver lining. The platform boasts an impressive collection of the best Netflix shows and the top-rated Netflix movies, providing ample choice for all tastes and interests. This provides customers with increased value to offset the rising costs, confirming Netflix's vision of amending prices proportional to the value it offers to subscribers.
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