প্রকাশ: 15/01/2022
Netflix Inc has raised its monthly subscription price by $1
to $2 per month in the United States depending on the plan, the company said on
Friday, to help pay for new programming to compete in the crowded streaming TV
market.
The standard plan, which allows for two simultaneous
streams, now costs $15.49 per month, up from $13.99, in the United States.
Prices also rose in Canada, where the standard plan climbed
to C$16.49 from C$14.99.
Shares of Netflix gained nearly 3% to $533.84 on Nasdaq
after Reuters broke the news of the price rises. They closed 1.3% higher at
$525.69.
The increases, the first in those markets since October
2020, took effect immediately for new customers. Existing members will see the
new prices in the coming weeks when they receive their monthly bills.
"We understand people have more entertainment choices
than ever and we’re committed to delivering an even better experience for our
members," a Netflix spokesperson said.
"We’re updating our prices so that we can continue to
offer a wide variety of quality entertainment options. As always we offer a
range of plans so members can pick a price that works for their budget,"
the spokesperson added.
The world's largest streaming service is facing the most
competition ever from companies looking to attract viewers to online
entertainment. Walt Disney Co, AT&T Inc's WarnerMedia, Amazon.com Inc and
Apple Inc are among the rivals pouring billions into new programming.
Netflix has added customers despite prior price increases,
which shows its members have been willing to accept higher costs, Evercore ISI
analyst Mark Mahaney said.
"This is evidence that Netflix has pricing power,"
Mahaney said.
Netflix had said it would spend $17 billion on programming
in 2021. The company has not disclosed spending for 2022.
The US price of Netflix's premium plan, which enables four
streams at a time and streaming in ultra HD, was increased by $2 to $19.99 per
month. For Netflix's basic plan, with one stream, the cost rose by $1 to $9.99
per month.
In Canada, the premium plan rose by C$2 to C$20.99, and the
basic plan was unchanged at C$9.99.
At $15.49 per month, the standard US plan from Netflix now
costs more than competitors. HBO Max, owned by AT&T Inc, is currently
offering an $11.99-a-month promotion for 12 months.
The price of Walt Disney Co's Disney+ is $7.99 a month or
$79.99 a year.
The United States and Canada is Netflix's largest region
with 74 million streaming customers as of September 2021. The region accounted
for nearly 44% of the company's revenue in 2021's third quarter, or about $3.3
billion.
Most of the company's recent pickup in subscribers has come
from overseas.
Netflix's subscriber growth slowed from a boom early in the
Covid-19 pandemic but rebounded with help from global phenomenon "Squid
Game," a dystopian thriller from South Korea released in September. Total
global subscriptions reached 213.6 million.
The company's next subscriber report is due Thursday when
Netflix posts quarterly earnings. Analysts project the company will report 8.5
million new sign-ups from October through December, according to Thomson
Reuters I/B/E/S data, bringing its global subscriber base to 222 million.
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