Netflix bills have increased again. The streaming platform announced Friday, Jan. 14, that the prices would rise in the United States and Canada. The standard plan for subscribers rose $1.50 for $15.49 per month. The basic plan then increased $1 to $9.99, and the premium plan increased $2 to $19.99. Those in Canada have a standard plan that also went up $1.50 to $16.49. The premium plan also increased $2 to $20.99 Canadian. Canada's basic plan was unchanged.
"We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members," a company representative said. "We're updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget."
Subsequently, Netflix's stock rose roughly 2% after the news of the increase. The price increase comes before the streaming company is set to announce its quarter earnings for the fourth quarter 2021.
Per CNN, the reason behind the price increase is simple: Netflix has been spending billions of dollars on content. With streaming as a more integral to the entertainment landscape, growth for companies like Netflix and others have greater subscription attraction. Netflix users are not happy about the news.
Not worth what's offered
If @netflix is gonna raise their prices again, then add better content. That shit is not worth the price at all.— cameron (@cameroncp_) January 14, 2022
With the idea that the company is spending so much money in content and creating their own shows and movies, one subscriber says the current lineup isn't worth it. Hopefully with the higher pricing, better options for this subscriber becomes available.prevnext
What's to watch
There aren't that many shows to watch on Netflix. Sure, sometimes you get Squid Games. Still think $15/month a lot cheaper than say going to a theater, but I wonder how much Netflix can increase the price in the future.— Levenberg-Marquardt (@ETH_Zurich3773) January 14, 2022
One subscriber agrees that it's not much to watch on Netflix. But, they also understand that going to the theater weekly or spending money on cable is much more.prevnext
Time to move on
With the second price increase in less than two years, one subscriber is ready to cancel. They don't feel the reward is worth it.prevnext
Emotions are mixed
I have mixed feelings. Not a fan of frequent price increases, & most Netflix streaming content isn't worth it. But they still have DVDs not available elsewhere. The obsession with streaming means way too many companies are focusing on recent hits only.— David S. Evans ✍ (@DavidSEvans29) January 14, 2022
Trending options are not as frequent for the streaming platform. But, they do like the nostalgic content Netflix offers.prevnext
Netflix price increase just makes me feel even better that I disabled renewal. Still churning through some Netflix exclusive movies before then.— phreakatron (@phreakatron) January 14, 2022
One subscriber is one of many who have already cancelled their subscription. With the price increase, they feel validated in their decision.prevnext
Just as much as traditional cable
So Netflix is raising the price again? Soon there will be no difference between cable and these streaming services.— Teeman (@olaleyetod) January 14, 2022
There's no difference between cable pricing for this subscriber as Netflix has increased its price. Whether or not they keep their subscription is unknown.prev