Netflix Has Raised Prices Following Disney+ & Hulu Price Increases
Prices seem to be rising often now in the streaming industry.
Disney+ and Hulu recently raised their prices, and now it’s Netflix’s turn! Let’s take a look.
Netflix Raises Prices
As of October 18th, Netflix raised their basic plan from $9.99 to $11.99 per month and their premium plan from $19.99 to $22.99 per month. Select subscription tiers in the United Kingdom and France have also increased.
The ads and standard plans will remain the same, at $6.99 and $15.49 per month, respectively.
According to Netflix’s third-quarter earnings report, the company added 8.8 million subscribers last quarter, with 247 million paid global subscribers.
In spite of subscriber growth, Netflix has still opted to raise prices.
Netflix attributed the boon in subscriber growth to its recent crackdown on password sharing, which was rolled out beginning in early summer 2023.
Instead of subscribers leaving the streaming service once they could no longer share a password, many users ended up signing up to pay for their own Netflix subscription.
Netflix is not the only streaming service to raise prices, with Disney+ and Hulu increasing prices on October 12th, 2023. The ad-free version of Hulu increased from $15 to $18 per month, and ad-free Disney+ increased from $11 to $14 per month.
And beginning November 1st, Disney+ will also join Netflix in cracking down on password sharing, beginning with Canadian users. Time will tell whether this also affects subscriber growth for Disney+.
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