In a move bound to impact subscribers, Netflix has increased the monthly fees for its popular streaming services. The basic plan now costs $12 per month, up from $10, while the premium plan is priced at $23, a $3 hike from the previous $20. However, the $7 ad-supported plan remains unchanged at $7 per month.
Effective immediately, these price adjustments follow the last U.S. price increase in January 2022. Netflix defended the decision by highlighting the enhanced value they provide to members.
While announcing third-quarter earnings results, the company stated, “As we deliver more value to our members, we occasionally ask them to pay a bit more. Our starting price is extremely competitive with other streamers, and at $6.99 per month in the US, for example, it’s much less than the average price of a single movie ticket.”
Reporting for WGRT – Choze Powell
