NEWS: Some Netflix Users Hit With Price INCREASE — Are You Safe?

Some Netflix users could see significant price increases in their streaming service soon.

We’ve seen so many changes in streaming services lately between higher prices for password sharing, price increases for Disney+, and several titles removed from streamed from the comfort of your own home. And now, if you’re not paying attention, your content could be costing you more than you think!

The popular streaming service, Netflix, recently announced a significant price increase for select plans throughout the United States, UK, and France, according to Deadline.

Netflix plans to set prices for the already price-tiered services at $22.99 per month for the Premium plan (which is up from $19.99) and the Basic plan, which is no longer available to new members, at $11.99 per month (up from the previous $9.99).

The company recently sent out a statement in a letter to shareholders that read, “While we mostly paused price increases as we rolled out paid 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.”  This letter also accompanied the recorded quarterly earnings report.

The increases started on October 18th for the plans that were increasing. Interestingly though, the plan options for Netflix with ads ($6.99) and the Standard plan ($15.49) are reported to stay the same price.

Netflix is defending this price increase stating, “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,” later in the same letter.

Netflix as a company later went on to call “increased sophistication around our pricing and plans” a critical component to monetizing its service, along with the rollout of paid password sharing and advertisers. The letter went on to detail that paid password sharing has debuted in all relevant markets and is “exceding expectations.”The company also remains “very optimistic” about its new ad tier for advertising.

What do you think about the price increases for Netflix? Do you think there will ever be a point where streaming services will price you out? Be sure to stay tuned with us at AllEars.net for the latest updates and news.

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Are you willing to pay more for Netflix with the price increase? Tell us your take on it in the comments.