News Worms
News Worms

Will Higher Prices Tune Out Subscribers — Netflix

Will Higher Prices Tune Out Subscribers — Netflix

The price changes applied immediately to new customers and will roll out in the weeks ahead to current subscribers.

The Los Gatos, Calif. -based company increased the price on its midrange plan, which allows high-definition video streaming on two devices at a time, to $10.99 a month from $9.99.

Netflix rolled out a price increase past year and there was much investor worry about potential sub declines.

As more and more TV-watchers ditch their cable plans for streaming providers on TV, computers, mobile devices and tablets, the number of people opting for Netflix over competitors such as Hulu and Amazon continues to rise.

Netflix is raising the price for its most popular USA video streaming plan by 10 percent - a move aimed at bringing in more money to outbid HBO, Amazon and other rivals for addictive shows such as "Stranger Things".

Subscribers to the streaming video service who are on the basic plan don't have to worry - that price will remain at $7.99 per month.

The cost of the popular streaming service is about to go up, but how much?

For now, analysts don't see terribly anxious, nor do investors, with Netflix's share price gaining 4.3% to $192.34 in recent market action. "We believe the timing of the subscription price increases is directly tied to the power of content available on Netflix this quarter", he wrote in a blog post.

Analysts predict Netflix will see subscriptions rise to more than 160 million within the next three years, with worldwide customers becoming the largest audience. Next year, Netflix will likely spend $7 billion, chief content officer Ted Sarandos said earlier this week at a Vanity Fair entertainment conference in Los Angeles.

Mashable reports that the price increase will begin in November.

You might notice something different on your Netflix bill starting next month.

The price hikes come as Netflix is investing heavily in original content such as TV series "Stranger Things" and "Marvel's The Punisher".


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