Netflix is raising the price of its standard and premium 4K plans in the US - Business Insider

Netflix is raising the price of its standard and premium 4K plans in the US

10/29/2020 10:31:00 PM

Netflix is raising the price of its standard and premium 4K plans in the US

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Netflix's standard and premium plan prices are increasing in the United States. The premium plan will now cost $18, up from $16, while the middle option is now $14, a $1 increase.The basic plan will remain $9 per month for lower resolution streaming on a single screen at once. 

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.Netflix is raising the price for two of its three US subscription tiers. The most popular plan, the standard plan, which includes high-definition streaming on up to two screens, now goes for $1 more at $14 per month, while the most expensive premium plan got a $2 hike to $18 for 4K HDR and more simultaneous screens.

The most basic plan will remain at $9 for lower resolution and one screen, the company said. Netflix"We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members," a spokesperson said. "We're updating our prices so that we can continue to offer more variety of TV shows and films — in addition to our great fall line up. As always we offer a range of plans so that people can pick a price that works best for their budget." 

Netflix has been under press to add subscribers at a faster clip, afterposting lower-than-expected numbers in its third-quarter earnings report earlier this month.Investors cheered the price increase, a potential revenue booster, sending shares higher by more than 4% in trading Thursday. 

"Though the Q3 subscriber adds were disappointing, we believe the NFLX Long Thesis is well intact," Mark Mahaney, an analyst at RBC Capital Markets, said of the earnings report. The bank's research indicates that customers usually subscribe to multiple services "and Netflix is almost always one of those services," it said. 

Those competing services are a growing group, though, and many are increasing the offerings in their own content library to compete. Perhaps most notably,as the COVID-19 pandemic hobbled other important business segments like theme parks and cruises.Disclosure: Mathias Döpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member.

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So Netflix loses subscribers due to their controversial “Cuties” film and now they are asking people to return for a higher price? What if everyone worked together to cancelnetflix just to see what happens since we control them not the other way around. So I guess all those cancellations had an effect?

Fuck Netflix I’m not paying $18/mo to have choice anxiety over shitty content. No thanks. Again thanks for this news I fucking called it! Greg Kelly, you owe me $150. Pay up, bitch! Its time to cancelnetflix

Netflix raises prices, stock leaps 5%Shares of Netflix ($NFLX) leap 5% as the company announces it is raising the prices of its standard and premium plans. Cancelling...👎 WholeMarsBlog It’d be okay if they at least produced better content instead of so many one-season failures — maybe data science is not the answer to what people want to watch WholeMarsBlog Great strategic move in the face of unprecedented cancelations. 😆

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