Unlock the Best Value: Netflix's New and Improved Subscription Plans!
Netflix Price Hike Sparks Debate: Is It Worth It?
Streaming services like Disney+ and Paramount+ have recently raised their prices, and some have even done so multiple times in the last two years. Netflix has also incrementally increased its prices and discontinued offering its cheapest ad-free plan for new subscribers in the US and other countries. Now, Netflix is once again increasing its prices.
In its Q3 2023 financial results, Netflix announced a new round of pricing adjustments. The only change at the moment is that the Premium tier, previously priced at $19.99, will now cost $22.99. However, all other tiers will retain their current prices: Standard at $15.49, and Standard with ads at $6.99. Additionally, adding an extra user to share your account will now incur an additional $7.99 fee, regardless of your chosen tier.
Additionally, if you currently have the Basic tier (no longer available for new subscribers, but existing subscribers can still maintain it), your monthly subscription fee will increase to $11.99. This means that even if you are grandfathered into a plan that is no longer offered, you will still have to pay more. The Basic plan was discontinued in July, and although there are currently no plans to revoke it from existing users (for the time being), Netflix does not appear to have any intentions of reintroducing it anytime soon. Here is what Netflix mentioned in its latest earnings call regarding this matter:
"The growth we have experienced can be attributed to the enhancements we have made to our service, such as offering two streams, higher quality video, and a programming lineup that is now essentially comparable to our other plans. In addition, we have phased out the Basic plan for new and returning members in the US, the UK, Italy, and Canada."
The advantage is that, currently, there won't be any increase in price for the Standard plan. Therefore, you can continue indulging in your favorite shows and movies without any concerns. However, Netflix may choose to raise the cost of these lower-tier plans in the future.
