Netflix has officially announced that its plans will be increasing prices first in the United States and Canada. However, the exact timing and extent of the increase have not been disclosed. This will affect millions of its users, including their Basic, Standard, and Premium plans.
Basic Package: Previously priced at $9.99 per month.
Standard Package: Previously priced at $15.49 per month.
Premium Package: Previously priced at $19.99 per month.
Netflix is about to increase the price of its packages in the United States and Canada. Illustration photo
Additionally, Netflix has changed its pricing structure by eliminating the Basic plan and adding an ad-supported Standard plan for $6.99 per month, meaning users will have to pay extra to remove ads from their viewing experience.
Notably, Netflix has also ended the ability to share a plan between households. Users now have to live in the same place to continue sharing a plan, or else they will have to pay extra for each member in a different location.
In addition to Netflix, many other streaming services are also changing their prices. Disney+, a formidable rival, is also preparing to raise the price of its ad-free plans to $13.99 per month. Hulu, another streaming service, will raise the price of its ad-free plan to $17.99 per month.
The question is whether users will continue to pay for Netflix after the price increase. This change could have a major impact on users' decisions when choosing their video streaming service.
Netflix, Disney+, Hulu and other rivals are facing an increasingly competitive environment in video streaming, and pricing adjustments could make or break their success in the market.
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