The media streaming application, Netflix has yet again increased subscription prices for it users.
Apparently the standard and premium plan for the US customers have been upgraded by $1 and $2 respectively. With the increase in price, the standard plan will now cost $14 whereas the premium plan will cost $18.
Although the basic plan will remain unchanged by charging $9 per month as usual.
The new members subscribing will be welcomed with the new prices whereas the old users will receive notification regarding it quite soon in the coming weeks or months.
A Netflix Spokesperson said: “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members. We’re updating our prices so that we can continue to offer more variety of TV shows and films.”
He also said that Netflix offers “a range of plans so that people can pick a price that works best for their budget.”
The price hike was bound to happen it was only a matter of when. Netflix spends billions while providing the audience with wide variety of entertainment choices to choose from.
Netflix COO said: “The core model we have, and what we think really our responsibility and our job is, is to take the money that our members give us every month and invest that as judiciously and as smartly as we can, If we do that well… and make that efficiency and effectiveness better, we will deliver more value to our members, and we will occasionally go back and ask those members to pay a little bit more to keep that virtuous cycle of investment and value creation going.”
Netflix is currently on the top of the game. It is considered as one of the best streaming application. The users will be willing to pay a bit more for the entertainment they are receiving in return.
