Netflix Raises Monthly Subscription Prices in US, Canada

Must read

How to Install Multiple Apps at Once on Your Windows PC

The feeling of having a new PC is great. What's not great is that you need to install all the essential apps...
Bhawani Singhhttps://techmepro.com
I am a blogger who believes in delivering latest tech news from around the world to my viewers.

Netflix has raised its monthly subscription price by $1 to $2 (roughly Rs. 75 to Rs. 150) per month in the United States depending on the plan, the company said on Friday, to help pay for new programming to compete in the crowded streaming TV market.

The standard plan, which allows for two simultaneous streams, now costs $15.49 (roughly Rs. 1,100) per month, up from $13.99(roughly Rs. 1,000),  in the United States.


Prices also went up in Canada, where the standard plan climbed to CAD 16.49 (roughly Rs. 970) from CAD 14.99 (roughly Rs. 880).

The price increases, the first in those markets since October 2020, took effect immediately for new customers. Existing members will see the new prices in the coming weeks when they receive their monthly bills. The price increases have not been previously reported.

“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.


“We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget,” the spokesperson added.

The world’s largest streaming service is facing the most competition ever from companies looking to attract viewers to online entertainment. Walt Disney, AT&T’s WarnerMedia, Amazon and Apple are among the rivals pouring billions into new programming.

Netflix had said it would spend $17 billion (126457.05 crore) on programming in 2021. The company has not disclosed spending for 2022.

The US price of Netflix’s premium plan, which enables four streams at a time and streaming in ultra HD, was increased by $2 to $19.99 (roughly Rs. 140 to Rs. 1400) per month. For Netflix’s basic plan, with one stream, the cost rose by $1 to $9.99 (roughly Rs. 74 to Rs. 740) per month.

In Canada, the premium plan rose by CAD 2 to CAD 20.99 (roughly Rs. 118 to Rs. 1,200), and the basic plan was unchanged at CAD 9.99 (roughly Rs. 600).

The United States and Canada are Netflix’s largest region with 74 million customers as of September 2021. Most of the company’s recent growth has come from overseas.

Netflix’s subscriber growth slowed from a boom early in the COVID-19 pandemic but rebounded with help from global phenomenon Squid Game, a dystopian thriller from South Korea released in September. Total global subscriptions reached 213.6 million.

The company’s next subscriber report is due Thursday when Netflix posts quarterly earnings. Analysts project the company will report 8.5 million new sign-ups from October through December, according to Thomson Reuters I/B/E/S data, bringing its global subscriber base to 222 million.


Catch the latest from the Consumer Electronics Show on Gadgets 360, at our CES 2022 hub.

Source link

More articles

Leave a Reply

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

- Advertisement -

Latest article

iphone: iPhone remains world’s most popular smartphone, but why there’s less to cheer for Apple

Apple turned out to be the smartphone brand with the highest market share in the world in Q4 2021, with the iPhone being...

Minecraft shaders [January 2022]: Best shaders packs for Minecraft, how to install them

Minecraft has a signature look with square lo-fi character models, trees, clouds, and more as the world is made of blocks. If you...

Microsoft to Buy Activision Blizzard in All-Cash Transaction Valued at $68.7 Billion

Microsoft said on Tuesday it would buy videogame publisher Activision Blizzard in an all-cash transaction valued at $68.7 billion (roughly Rs. 512,362 crores),...

Samsung Galaxy S22 Plus Renders, Specifications Tipped; Galaxy Tab S8 Series Specifications Surface Online

Samsung Galaxy S22 series is tipped to launch sometime next month. Now a tipster suggests that upcoming flagship smartphones from Samsung will launch...

Samsung Galaxy S21 FE 5G Review: Wait for a Price Drop

The ‘Fan Edition' or FE series from Samsung was designed to offer enthusiast users flagship-grade smartphone features at mid-range prices. Samsung nailed it with...
- Advertisement -