The streaming service, Netflix has just announced that they are raising prices next month. They sent an email to their US customers telling them there will be a price hike in the next billing cycle. Netflix had already stated in January that there will be a raise in price but they had not said when it would start.
The prices for each plan increased by $1 to $2 dollars. The basic plan raised from $8 to around $9 per month. The standard plan will increase from $11 to $13 per month. Their premium plan will increase from $14 to $16 per month. They have said that the extra money will be spent getting new shows for Netflix.
Netflix has been rewarded by their investors for the price raise. Netflix’s stock rose 6% since January and is still rising. They have also been using this money to make shows just for their service. Their investors are also happy that shows like Stranger Things have been pulling tons of money and winning awards; Netflix shows won 23 Emmys in 2018 alone.
Although Netflix is getting a lot of new shows, they are also losing a lot of old ones. With companies like Disney and Warner Bros making their own streaming services, Netflix will be getting some new competition. Disney has even said that they will be pulling their shows and movies off of Netflix in 2019.