Netflix is reportedly planning to increase its subscription prices, starting in the U.S. and Canada, following changes made in response to a loss of subscribers in 2022.
These changes included measures against password sharing and the introduction of an ad-supported plan at a lower cost. The price hikes will first impact the ad-supported option and will eventually extend to global markets, with specific amounts and implementation dates yet to be disclosed.
Currently, Netflix offers three main pricing options for subscribers: Standard with ads ($6.99/month), Standard ($15.49/month), and Premium ($19.99/month). Additionally, a “member slot” feature was introduced for Standard and Premium plans at $7.99/month, allowing users to add members outside their home network.
While some subscribers may be displeased by the price increase and potentially cancel their subscriptions, Netflix has been proactive in implementing changes despite initial pushback.
For instance, their anti-password-sharing system, initially criticized in Latin America, was implemented worldwide and led to subscriber recovery.
Netflix is not alone in raising prices among streaming services, with a 25% increase for major ad-free services over the past year. HBO Max and Disney+ have both recently raised their prices. This trend may prompt subscribers to reevaluate their streaming subscriptions as costs rise across the industry.
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