Netflix raises monthly subscription prices in US and Canada

Netflix said on Friday that the price of its monthly subscription in the United States will be hiked by $1 to $2 (about Rs. 75 to Rs. 150) per month, depending on the plan chosen, effective immediately. According to the firm, the rise will assist in the purchase of new material, which will allow it to remain competitive in the increasingly competitive streaming television market. Netflix raises monthly subscription prices in US and Canada

Prices have increased by over Rs 1,000 in the United States, where the base plan, which allows for two simultaneous streams, has gone from $13.99 per month (approximately Rs 1,000) to $15.49 per month (approximately Rs 1,100) per month, an increase of nearly Rs 1000 in price.

The standard plan in Canada has seen a price increase from CAD 14.99 (about Rs. 970) to CAD 16.49 (approximately Rs. 970). In the United States, the standard plan has seen a pricing increase from CAD 14.99 (roughly Rs. 970) to CAD 16.49 (approximately Rs. 970). (about Rs. 1070). (about Rs. 970). (about Rs. 970). (about Rs. 880). Netflix raises monthly subscription prices in US and Canada

When it came to customers who had just made an online purchase of a product or service, it was immediately effective. The price increases were the first to be introduced in specific regions since October 2020, and they were the most significant. Active memberships will begin to receive their monthly invoices in the coming weeks, and these invoices will be expected to reflect the most current price information available at the time of issue. In the months leading up to today’s announcement, the company has provided no information about the price hikes.

According to the corporation, customers now have access to a greater variety of entertainment alternatives than they ever have before. In a press statement, the firm also said that it is committed to delivering an even better experience for its members going forward. Netflix raises monthly subscription prices in US and Canada

“To guarantee that we can continue to offer a varied choice of high-quality entertainment options to our customers, it is critical that we change our price structure. We are offering a number of price alternatives for the second year in a row to guarantee that members may find something that matches both their needs and their budgetary limits.” The presenter went on to provide further information.

Netflix raises monthly subscription prices in US and Canada

It is the most severe rivalry that streaming services have ever faced, as they vie for the attention of customers who want to watch online entertainment material. Only a few of the companies that are investing billions of dollars in the creation of new media content are called Walt Disney, AT&T’s Warner Media, Amazon, and Apple, among others (to name a few examples). Netflix raises monthly subscription prices in US and Canada

In a report published by the news agency Reuters, Netflix indicated that it expected to spend $17 billion (126457.05 crore) on content in 2021. The amount of money put aside for the corporation’s costs in 2022 has not been determined in advance, although it is estimated to be in the millions of dollars. Netflix raises monthly subscription prices in US and Canada

As of today, it has been revealed that the price of Netflix’s premium plan, which includes the ability to watch four movies at the same time as well as streaming in super HD, would increase by $2 per month, to $19.99 (about Rs 140-Rs 1400) per month, with effect from today. Every month, Netflix’s standard plan, which includes one stream, has seen its monthly membership rates increase by $1 per month, from $9.99 (about Rs. 74 – Rs. 740) to $9.99 (roughly Rs. 740).

While rates in the United States have risen by CAD 2, the premium plan has maintained its price of CAD 9.99 (about comparable to Rs. 118 to Rs. 1,200), while the basic plan has not changed from CAD 9.99 (approximately equivalent to Rs (roughly equivalent to Rs. 1,200). (This is about equivalent to Rs. 118 to Rs. 1,200 in Indian rupees). (about Rs 600) Netflix raises monthly subscription prices in US and Canada

According to Netflix, the United States and Canada are its most significant geographic areas, with a combined total of 74 million users in the United States and Canada as of September 2021, according to the company. According to the business, the bulk of the company’s recent growth has come from markets outside of the United States.

Membership growth at Netflix dropped after experiencing an increase early in the COVID-19 outbreak, but it rebounded in response to the international popularity of Squid Game, a dystopian thriller from South Korea that was released in September and rapidly became a global phenomenon. The organization now has 213.6 million members globally, which is a new membership record for the organization. Netflix raises monthly subscription prices in US and Canada

According to the corporation, Netflix will announce its most current membership numbers on Thursday, in conjunction with the publication of the company’s quarterly earnings report. On the basis of the most recent figures from Thomson Reuters, experts expect that the corporation will sign up 8.5 million new customers from October through December, raising its total global user base to 222 million persons.

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