You're about to pay a lot more for Netflix. Yesterday, they announced their largest price-hike in their 12-year history, and their second increase in 15 months.
The standard, most popular plan will go from $11 per month to $13 . . . the lowest plan will go from $8 to $9 . . . and the highest plan with ultra-high definition will jump from $14 to $16. So most people will be paying another $2 a month, or $24 a year.
The rate change will be phased in over the next three months for all current customers. And it'll be immediate for any new subscribers.
A lot of FURIOUS people are flooding social media to pretend that they're so upset they're CANCELING . . . but Netflix knows most people won't do that.
Multiple recent surveys have suggested that Netflix was UNDERPRICED. In one, 64% of subscribers said they'd pay up to $15 a month for Netflix, and only 36% said they'd consider canceling if they raised their rates.
Obviously, a big reason for this is that Netflix is keeping subscribers happy. Last month, they dropped $100 million to keep "Friends" for another year, and "Variety" says they spent $13 BILLION on content last year.
For comparison, HBO "only" spent $2.5 billion in 2017, and CBS spent $4 billion.
According to "The Verge", Netflix premiered "approximately 700 original shows in 2018 alone, and is expected to develop more this year."
(What do you think? Is that worth it for you? Or are you one of those who'd actually consider canceling now?)
(The thing is, in a vacuum $2 more per month is probably peanuts for most people, assuming they actually use Netflix on a regular basis . . . especially for their originals like "Stranger Things" and "Orange is the New Black".)
(The problem is that all the subscription services are starting to add up . . . and when push comes to shove, it's easier to cut the most expensive one . . . the one that has raised its rates TWICE now in a year and a half.)