Netflix: Raises subscription prices – 1.5% increase for its share

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Netflix raises streaming subscription prices in the US and Canada for the second time during the pandemic, which led to a huge increase in the company’s subscribers but slowed in 2021.

The Netflix website was updated with new prices on Friday. The standard program in the US will now cost $ 15.49 per month, up from $ 13.99. The basic package increases to $ 9.99 from $ 8.99 and the Premium package goes to $ 19.99 from $ 17.99. In Canada, the standard program will increase, according to MarketWatch, to C $ 16.49 from $ 14.99.

“We understand that people have more entertainment options than ever before and we are committed to providing an even better experience for our members,” a Netflix spokesman told Reuters, which was the first to publish the news. “We update our prices to continue to offer a wide variety of quality entertainment options. As always, we offer a range of packages so members can choose a price that fits their budget.”

The company, which spent $ 17 billion on planning in 2021, has not revealed how much it intends to spend this year.

Netflix also increased its prices in October 2020. This increase coincided with the slowdown in new Netflix subscribers, as the company added more than 25.8 million new subscribers in the first half of 2020, when the pandemic first appeared.

From mid-2020 to mid-2021, Netflix attracted less than 17 million new net subscribers and less than 1 million on a net basis in North America. The company has relied on international markets for growth, even reducing prices in India, where competition with and Walt Disney is fierce.

Netflix executives’ forecast for the holiday quarter was 8.5 million new net subscribers, but some analysts believe that forecast was too optimistic. The streaming service is expected to announce its fourth quarter earnings on Thursday, January 27th.

Netflix shares rose 1.5% to $ 527 during the session today, while its intra-conference price exceeded $ 530.


Source From: Capital

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