In an unexpected move, Netflix has taken its subscribers by surprise by increasing the prices of its subscription plans.
The streaming giant recently shared its third-quarter report, revealing that changes have been made to the pricing structure of its plans.
Revised Price List
Here’s a glimpse of the revised pricing:
- The basic plan, which was previously $9.99 (Rs. 832) per month, now stands at $11.99 (Rs. 998) per month.
- The premium plan, previously priced at $19.99 (Rs. 1,664) per month, has now been adjusted to $22.99 (Rs. 1,914) per month.
It’s worth noting that the rates for Netflix’s $6.99 ad-supported plan and $15.49 standard tier will remain unchanged.
International Impact
These price adjustments are not limited to the United States but also affect Netflix subscribers in the United Kingdom and France.
The basic and premium plans in the UK have seen price increases, with the basic plan moving from £7.99 (Rs 805) per month to £9.99 (Rs. 1,007) per month, and the premium plan rising from £11.99 (Rs. 1,208) per month to £17.99 (Rs. 1,813) per month.
Behind the Price Increase
Netflix has raised its prices as part of its strategy to expand its content library, invest more in original TV shows, movies, and gaming, and enhance its overall business value.
The company’s previous price hike occurred in January 2022 when it discontinued offering its $9.99 Basic (Rs. 832) ad-supported plan to new and returning users.
No Price Hike in India
Netflix has opted not to increase its prices in India, recognizing the importance of maintaining affordable plans to bolster its user base in the country.
Furthermore, Netflix has introduced measures to curtail password sharing globally, resulting in an uptick in its customer base.
