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Will Netflix raise subscription prices soon?
The popular video streaming service is sending some mixed signals.
As recently as July, Netflix executives indicated that pricing would remain the same for at least a year. That made us feel pretty good about budgeting the service at current rates until at least sometime in mid-2024.
But a new report from the Wall Street Journal signals that Netflix may have a change of heart that could soon impact streamer’s wallets.
Let’s take a look at what we know so far.
An October report from the Wall Street Journal indicates that Netflix is considering a price hike much sooner than we previously thought.
The WSJ reports that Netflix’s two ad-free subscription tiers are likely to receive a price increase in the coming months.
The reason?
It seems as though Netflix is anticipating that the costs of production for its vast array of originals will go up after a Hollywood actors strike forced a new agreement on terms.
The report did not indicate that Netflix plans to alter the pricing on its ad-supported tier, which is the cheapest option at $6.99 per month.
They did not specify how much the price could be going up on the ad-supported Netflix tiers.
Here’s a look at the current pricing model:
Subscribers to the Standard and Premium packages have the option to add “extra members” for $7.99 per person per month. These out-of-household subscribers get their own login and password, but the bill is paid by the main account holder. (This is a new policy to retain customers who were sharing passwords.)
If you feel like you’ve read a lot about the Netflix pricing model in recent months, it’s probably because they’ve been making significant changes to their product.
They’ve taken on major issues in the industry like producing ad-supported content and cracking down on password sharing among streamers in different households.
The result is a much different pricing menu than what subscribers experienced in the recent past.
Here’s a quick rundown of the changes they’ve made since the beginning of 2022:
Will you consider dumping your Netflix subscription if prices jump soon? Will the ad-supported subscription be an option for you? We’d love to hear your money-saving streaming strategies in the Clark.com community.
This post was last modified on October 18, 2023 3:11 pm
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