The streaming service blamed its 2019 price hikes on slower membership growth in the United States during its Q3 earnings report in 2019.Ī standard Netflix subscription costs more than the standard subscriptions for most competing streaming services on the market, the notable exception being WarnerMedia’s HBO Max, which launched in May, costs $14.99 per month and has suffered from slow consumer adoption. Time will tell how the streaming service’s price hikes will impact its subscriber base. The mixed Q3 earnings aside, Netflix has fared better than many of its streaming competitors since the pandemic began disrupting the entertainment industry and the streaming service enjoyed large subscriber increases earlier in the year. The price changes were announced several days after Netflix reported its Q3 earnings, where the company narrowly missed its projection for new subscribers.
Wall Street took kindly to the news Netflix’s stock went up around 5 percent in the hours after the price hike news broke. Recommendation Machine: 'Love and Anarchy' Gleefully Upends the Typical TV Workplace Romance You can watch as much as you want, whenever you want, without a single ad all for one low monthly price.
New Movies: Release Calendar for December 10, Plus Where to Watch the Latest FilmsĪFI's Top Films and TV of 2021 Include 'Dune,' 'Power of the Dog, and 'Succession'Įmmy Predictions: Best Limited Series - Was It 'The Queen's Gambit' All Along? Netflix is a streaming service that offers a wide variety of award-winning TV shows, movies, anime, documentaries and more on thousands of internet-connected devices. As always we offer a range of plans so that people can pick a price that works best for their budget.” “We’re updating our prices so that we can continue to offer more variety of TV shows and films – in addition to our great fall lineup. “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 in a statement.