Netflix, a prominent streaming service, has declared an increment in their subscription fees once more. This news follows a two-year interval since the last price hike experienced by members, and each of the plans they offer will be adjusted.
The cost of the standard tier with ads on the streamer’s platform will rise from $6.99 to $7.99 per month, while the standard plan will increase from $15.49 to $17.99. Furthermore, the premium tier membership fee will go up from $22.99 to $24.99. These price adjustments will be implemented in the U.S., Canada, Portugal, and Argentina. Existing customers should expect these changes to take effect during their next billing cycle.
Netflix reps communicated to their shareholders about the price adjustment by stating: “We’ve made some updates to our pricing structure that we believe will continue to deliver an exceptional viewing experience for our customers.
In order to enhance Netflix even further for our valued members, we may occasionally need to increase our subscription fees slightly. This will help us continue pouring resources back into improving our service. To clarify, we are modifying the prices of our plans today across the U.S., Canada, Portugal, and Argentina. This adjustment was already accounted for in the guidance we shared in October 2024 regarding future price changes up to 2025.
For the first time, Netflix has announced a price hike on its ad-supported plan. This development follows the record-breaking quarterly growth in subscribers they reported during their shareholders’ meeting.
Furthermore, raising the cost for an additional member on your Netflix plan from $7.99 to $8.99 demonstrates that the price increase discussions by Netflix executives in 2024 were not just empty talk. In other words, there’s significant potential for enhancing the original content that Netflix is producing, which is why they’re raising subscription costs.
Does Netflix’s Original Content Justify the Price Increase?
Given the information provided regarding investments in different programs for the platform, it’s challenging not to ponder over some of the underwhelming launches the streaming service has been associated with.
Over the last week, I found myself watching Netflix’s latest original film titled “Back in Action.” Regrettably, it garnered poor reviews from the critics. Although the precise budget for this film remains undisclosed, there have been reports indicating that Cameron Diaz was paid a substantial amount of $45 million to star in two movies produced by Netflix. Frankly, I find it hard to justify such a high payment considering the quality of the first movie she delivered under her contract with them.
It appears that Netflix’s films this year are showing a significant increase in production costs. For instance, the movie “The Electric State” by the Russo Brothers is said to have an astonishing $300 million budget, mainly attributed to the extensive visual effects needed for the film. Additionally, movies like “Red Notice” and “The Gray Man” have reportedly splurged on actor salaries, despite delivering only mediocre excitement at best. Despite this, Netflix tends to invest substantial sums in movies that received mixed reviews from critics.
Over time, exceptional series like the “Knives Out” films or movies that made a splash on the festival circuit such as “Roma,” “Maestro,” and “All Quiet on the Western Front” can get lost among an overwhelming number of average original series and films similar to “Back in Action.” However, when another price hike happens (which is likely), perhaps more smaller and high-quality productions will surface afterward. At least there are numerous Netflix originals to anticipate in 2025.
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2025-01-22 02:33