Netflix Inc has raised monthly charges in the United States for its standard and premium subscription plans.
As per details, Netflix increased the cost of its standard subscription by $1 a month to $14, and the price for the premium tier rose by $2 per month to $18. The standard plan, the company’s most popular, enables two streams at the same time, while the premium plan allows for four simultaneous streams. Its basic plan, which allows only one stream at a time, remains unchanged at $9 a month.
The price increase was the first for US customers since January 2019.
The move had been widely expected after Netflix raised its prices in Canada earlier this month and then ended free 30-day trials in the US.
The new prices will take effect starting immediately for new members while current members will be notified that their subscription is going up as it rolls out over the next few months.
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“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson said in a statement. “We’re updating our prices so that we can continue to offer more variety of TV shows and films.”
The spokesperson added that Netflix offers “a range of plans so that people can pick a price that works best for their budget.”
Netflix, the world’s dominant streaming service, enjoyed a boom in subscriptions at the beginning of the year as viewers around the world were told to stay at home to help fight the coronavirus pandemic. The company expects to end 2020 with more than 200 million streaming subscribers around the world, with 73 million of those from the United States and Canada. It is pertinent to add here that after Netflix raised its US prices last year, the streaming service suffered a decline of 130,000 subscribers in the US and Canada from the end of March to the end of June.
At the same time, it also is facing a growing list of competitors including Walt Disney Co’s Disney+, HBO Max from AT&T Inc and Apple Inc’s Apple TV+.
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What does this mean for Pakistan?
The question which comes to mind with this news is whether Pakistani audiences will be affected by this price rise. However, for now, prices for South Asian and Pakistani viewers remain unchanged and they will be unaffected by this price hike.
You can subscribe to Netflix for Rs 950 – Rs 1,500 a month in Pakistan, depending on your plan.
