NETFLIX fans are fuming after the entertainment giant on Friday announced that it is jacking up its prices in the United States.
The between $1 and $2 price hike across all three of the service’s monthly subscription tiers makes it the country’s most expensive streaming platform.
1
Netflix’s top 4K plan has been pushed up to the $20 a month mark, up from $18, while its lowest tier has climbed by a dollar to $10.
The app’s mid-range and most popular subscription tier has gone from $14 a month to $15.50.
That makes it more expensive than similar plans offered by HBO Max, Showtime, Disney Plus, Apple TV Plus, Amazon Prime Video, Hulu, Peacock, Paramount Plus and other major streaming services.
It’s the sixth time the company has raised its monthly fees since 2014. The most recent to affect users in North America rolled out in October 2020.
The increases took effect immediately for new customers.
Existing members will see the new prices in the coming weeks when they receive their monthly bills.
Most read in News Tech
Netflix said the extra cash will help pay for new programming to compete in the crowded streaming TV market.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson said.
“We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget,” the spokesperson added.
The world’s largest streaming service is facing more competition than ever from companies looking to attract viewers to online entertainment.
Disney, Amazon and Apple are among the rivals pouring billions into new programming.
Netflix had said it would spend $17billion on content in 2021. The company has not disclosed spending for 2022.
Analysts said that users in other markets, such as the United Kingdom, can also expect price rises in the next six to 12 months.
Paolo Pescatore, of PP Foresight, told The Sun: “Price rise are inevitable and it is something we’ve been accustomed to over the last few years. This will not be the last and there will be more price increases in other markets.
“It is all about great storytelling and having a broad, diverse catalogue for viewers.
“Netflix remains a robust business and will continue to invest heavily in original content which remains paramount.”
Fans did not take kindly to the news, lamenting the service’s second price hike during the Covid-19 pandemic.
“Another year, another f*****n Netflix price hike,” one person wrote on Twitter.
Another tweeted: “Netflix price hike again? Piracy will become the norm once again”.
And a third fumed: “They’re just gonna keep pushing it every year until we all say F*** You! What’s the threshold? Once it hits over $25? So about 2-3 more years?”
Netflix drops trailer for true crime doc The Tinder Swindler about dating app conman who cheated women out of thousands
In other news, personalised smart guns, which can be fired only by verified users, may finally become available to U.S. consumers this year.
Scientists are embarking on a mission to unravel the mystery behind dozens of grisly child mummies buried in an underground tomb in Sicily.
Police have caught an Italian mafia henchman who’d be on the run for 20 years after spotting the fugitive on Google Maps.
And, one of the best-preserved fossils ever found has confirmed that young dinosaurs burst from their shells just like baby birds.
We pay for your stories! Do you have a story for The Sun Online Tech & Science team? Email us at [email protected]
This post first appeared on Thesun.co.uk
