Netflix has increased its monthly subscription fee by $ 1 to $ 2 (approximately 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 competitive programs in crowded streaming. . TV Market.
The standard program, which allows two simultaneous broadcasts, now costs $ 15.49 (approximately Rs. 1,100) per month, starting at $ 13.99 (approximately Rs. 1,000), in the United States.
Prices also went up in Canada, where the standard plan increased to CAD 16.49 (approximately Rs. 970) from CAD 14.99 (approximately Rs. 880).
Price increases, for the first time in those markets since October 2020, have begun to apply quickly to new customers. Members will see new prices in the coming weeks when they receive their monthly bills. Price increases have not been reported before.
"We understand that people have more entertainment options than ever before and we are committed to bringing the best experience to our members," a Netflix spokesman said.
"We are revising our prices so that we can continue to offer a wide range of high quality entertainment. As always we offer a series of programs so members can choose the amount that works for their budget," a spokesman said.
The world's largest live streaming service is facing stiff competition from companies looking to attract viewers to online entertainment. Walt Disney, AT&T's WarnerMedia, Amazon and Apple are among the competitors who are making billions in new programs.
Netflix had said it would spend $ 17 billion (126457.05 crore) on plans by 2021. The company did not disclose spending in 2022.
The US price of the Netflix premium program, which allows for four live streaming and live streaming in HD, has increased by $ 2 to $ 19.99 (approximately Rs. 140 to Rs. 1400) per month. With Netflix's basic program, with one broadcast, the cost increased by $ 1 to $ 9.99 (approximately Rs. 74 to Rs. 740) per month.
In Canada, the premium plan increased by CAD 2 to CAD 20.99 (approximately Rs. 118 to Rs. 1,200), and the basic plan was not changed to CAD 9.99 (approximately Rs. 600) .
The United States and Canada are the largest Netflix region with 74 million subscribers since September 2021. Most of the company's recent growth comes from overseas.
The growth of Netflix subscribers has slowed since the beginning of the COVID-19 epidemic but has resurfaced with the help of the global squid Game, a dystopian delicacy from South Korea released in September. Total enrollment worldwide reached 213.6 million.
The company's next subscribers' report should come out on Thursday when Netflix submits quarterly earnings. Analysts suggest that the company will report 8.5 million new subscribers from October to December, according to data from Thomson Reuters I / B / E / S, bringing the total number of subscribers worldwide to 222 million.