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Netflix Set to Raise Prices at the End of the Month

Netflix Set to Raise Prices at the End of the Month

Source: Jens Kreuter, @jenskreuter

Towards the end of last year Netflix announced that it would be raising its subscription cost across the US starting in 2018. It looks as though the time has come for the changes to take effect. Here’s what you need to know.

We reported in October that Netflix was planning to hike prices of its subscription plans in a report from Mashable. Netflix increased the price of its Standard tier to $10.99 and its Premium tier to $13.99, up a dollar and two dollars respectively. The price changes did not take place immediately, but Netflix has begun to notify users that prices will increase starting on February 28, 2018.

Netflix does not expect a significant loss in customers as their Premium tier is still cheaper than Hulu’s entry tier. The increase in revenue will go directly towards creating in-house content as some have claimed that Netflix has a budget of over $7 Billion for original content creation this year alone. Netflix’s in-house content has had its share of attracters and detractors, but the general consensus is positive.

It is important to remember that Netflix and Hulu provide the same service, however, both go a different route in doing so. Hulu focuses on Live TV and more recent content, whereas Netflix has turned more towards original content and slowing adding more recent movies and shows.

What are your thoughts on the price increase? Do you have Netflix, Hulu, or both? Let myself and other readers know below!

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