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Netflix is raising prices for two of its streaming plans. The Basic and Premium Netflix plans will now cost more than they did a few months ago. Netflix announced the price increases to these plans in their shareholder briefing document, where it touched on a lot of issues. Under the monetization and growth section of the document, the company announces its increase in the pricing for Basic and Premium plans in certain regions.
Netflix is raising prices again, two streaming plans affected
Yes, the coming change to the pricing of the Basic and Premium plans will stay the same in certain regions. The area of focus for this increase at this point is the US market, where both will get $2 in addition to their previous pricing. In other regions, the prices of all Netflix subscription plans will stay the same without any adjustments.
Instead of $9.99 for the Basic plan, subscribers will soon start paying $11.99 for this plan. As for Premium subscribers, they’ll have to pay $22.99 in place of the $20.99 which was the price a few weeks ago. At the moment, there is no information as to when the new prices from Basic and Premium plans will go live in the US.
Streamers in the US should prepare to see the price hike of two Netflix problems
This isn’t the first time that Netflix has hiked prices for different subscription plans in different regions. It appears that the price increase has been part of Netflix’s plans for quite a while now. The streaming service provider only held off on these increments as a result of making paid sharing available to users.
Over the past few months, Netflix has been fighting to bring an end to password sharing. Netflix’s struggles in this regard are finally paying off as the company is seeing more subscribers on their platform. Now the company plans to “refine and optimize” its approach to business to get more subscribers over the next few months.
This will affect just the US… for now
After gaining more subscribers and bringing an end to password sharing, Netflix is ready to increase subscription prices. This increment will affect just the US for now, and there’s no information on whether other regions will also see this hike. In the US, the Basic and Premium plan will see a $2 increment on their current prices.
As for the new ads’ subscription plan, it will not see any price increment. At just $6.99 this plan with ads is the choice for lots of streamers on a budget. This plan was recently introduced to netizens during the Netflix fight against helicopters.
The streaming service provider is already making a lot of plans for the coming months. These plans include adding more games to Netflix, bringing retail destinations to locations around the world, and so much more. In the coming months, more details on Netflix’s plans will become available.