The report circulated a few months after the company began cracking down on password sharing. Earlier this year, Netflix asked users to use their residential location on their devices. And for the users who shared their accounts to pay additional subscriptions.
Wall Street Journal report notes that other streaming companies looking into providing new prices that include more exclusive programming, like sports, into their company. Netflix is also set to launch ‘Netflix House’ blending entertainment with physical retail and dining.
Netflix Price Hike
Netflix increased the price of both its basic and premium plan in the US Wednesday, as well as in France and the UK.
There is no change in the cost of the streaming service’s ad-supported ($6.99 per month in the US) and standard ($15.49).
In a letter accomplished by Netflix’s Q3 financial results, the company said, “While we paused most price increases as well rolled out paid sharing, we will continue to offer a range of prices and plans to meet different needs. As we deliver more to our members, we will occasionally ask them to pay a bit more.”
As of today, Netflix’s basic plan (no ads included, but no longer available to new subscribers) is $11.99/month, while its premium plan (which includes Ultra HD streaming and the ability to stream on up to four devices simultaneously) is $22.99/month, up from $9.99 and $19.99, respectively.
According to Netflix, “our starting price is extremely competitive with other streaming services, at $6.99 per month in the US. It’s considerably less than the average cost of one movie ticket.”
