Netflix stock is up today after the company reported it had added 9 million new subscribers. But apparently it’s not up enough — as the company also announced today that it was immediately adjusting (i.e. raising) their prices on several of their plans.
In a statement to stockholders, they said
While we mostly paused price increases as we rolled ou tpaid 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. Starting today, we’re adjusting prices in the US, UK and France.
READ MORE: Netflix Has Invented the Perfect Movie Genre
So here’s how the new prices shake out: Netflix’s plans with ads and its “Standard” plan will remain the same — $6.99 and $15.49, respectively. If you subscribe to the Basic or Premium plans, those prices are going up, to $11.99 and $22.99 a month, respectively. (The Standard plan is 1080p video quality, ad-free viewing on assorted devices, and two devices that can download content at any time; Premium subscribers get 4K streaming, better audio, and downloads on six devices.) That means if you’re a Premium Netflix subscriber, you’re now going to pay $275 a year just to watch The Great British Baking Show. (And by you, I mean me.)
Netflix has been raising prices pretty regularly of late. In late 2021, that Premium membership plan cost just $17.99 a month. (It then jumped to $19.99 before it jumped to its latest price.) That means in the span of about two years, that plan alone has increased in price by around 27 percent. That’s … not nothing! And Netflix is one of many streaming services that has raised its prices lately; Disney raised the prices of Disney+ and Hulu earlier this month. If only someone would invent some sort of bundle of various channels, perhaps sent via a cable, that could be then purchased for one low price each month… wouldn’t that be nice?
The Worst Netflix Blockbusters
On many occasions, Netflix has tried to make their own big-budget movies in an attempt to compete with theatrical tentpoles. The ten movies below were … not their strongest efforts.
