That isn’t limited to direct rivals: Xbox Game Pass, PlayStation Plus, Spotify, YouTube Premium and Apple Music all jacked up their subscription costs in the last year. Disney+, Hulu and Max have all issued increases in the past 12 months. Netflix is hardly alone in raising prices. In addition to its price hikes, ad-supported plan and password-sharing crackdowns, the streaming service is even taking the peculiar step of moving into retail. Netflix has shifted its strategy as it adjusts from its peak-pandemic highs while facing increased competition. In addition, Netflix’s advertising-supported plan seems to be off to the hot start it expected as it accounted for 30 percent of all new sign-ups in countries where it’s available. You can get Netflix for anything from £4.99 to £17.99 per month following price increases for some of the subscriptions in October 2023. Paid net subscriber additions were 8.76 million for Q3, the biggest increase of the last year. Paid memberships are up to 247.15 million, a significant 10 percent annual increase. The company’s move to limit password sharing appears to have paid off. “Our starting price is extremely competitive with other streamers and at $6.99 per month in the US, for example, it’s much less than the average price of a single movie ticket.” New subscribers will be subject to the new plan pricing. Netflix says that its members will be notified via email 30-days before the price jump affects them. “While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same - a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” Netflix wrote in its earnings report. The Premium plan tier, which includes 4K streaming and allows four screens to be used concurrently, has jumped from 19 to 21.
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