Netflix is bumping prices for U.S. subscribers (over 58 million) anywhere from 13% to 18%. The price hike comes at a time when new competitors are beginning to surface such as Disney+, NBCUniversal, and Apple.
The streaming giant has invested billions for new content, leaving them with $2 billion debt as of last October. Despite winning five awards at the Golden Globes, there are still concerns about new competitors pulling licensed content from Netflix for exclusivity. The most recent case was when Warner Bros. decided to pull Friends which cost Netflix a $100 million deal to keep the sitcom on.
Price hike overview:
- Basic – from $8 to $9
- Standard – from $11 to $13
- Premium – from $14 to $16
When will prices change? Immediately for new subscribers. As for existing members, prices will go up over the next few months.
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