Netflix Boosts Prices

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Netflix Boosts Prices

Emily Dozier, Staff Writer

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The popular streaming service, Netflix, has announced they will be raising prices for all three of their streaming plans in the United States, affecting 58.46 million subscribers. The more expensive rates are a jump of between 13 and 18 percent, one of the biggest increases in company history. For existing customers, the plan prices will be applied within the next few months, whereas the prices will be effective immediately for new customers. The basic plan is being raised from $8 to $9, while the other two plans will cost $2 more. The standard HD plan will now be $13 and the premium plan will now cost $16.

Netflix’s price hike is largely because of their investment in producing original movies and TV shows. The company has had to deal with a looming billion-dollar debt they have taken on in order to ward off other streaming threats like Hulu, Amazon, and HBO. The $1-$2 increase is enough to generate at least a billion dollars more of revenue the per year.

While a 6% increase in stocks keeps investors happy, customers are up in arms about the more expensive prices. It now forces members to make the decision of whether the price is worth the pleasure. Many no longer see the value reflected in movie and TV show options, threatening to switch to Hulu, who has a combined student discount with Spotify and Showtime for only $5 a month. Netflix hopes its originals like Bird Box, Stranger Things, Orange is the New Black, and House of Cards prevent cancellations. The company hopes to maintain the advantages over other services through convenience, cost, and global distribution.

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Emily Dozier, Staff Writer

Emily Dozier is a senior in Journalism 4 at Northgate. After high school, she plans to pursue a degree in journalism and communications while playing college...

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