Netflix is our main entertainment source for a long time, teens nowadays, don’t even know any other way of their entertainment rather than Netflix or some streaming website. The Streaming Service charges a small fee for all the services it provides which is exactly up to the mark, not more, not less. One cannot argue if it’s more for what they provide at least. You might have gotten emails from Netflix about their price hike by now.
Below we tell you the reason why Netflix is hiking its current pricing:
The Prices Have Already Hiked!
If you were a new user of Netflix in 2019, then you might be already paying the hiked prices of the service and won’t know there were cheaper plans that were offered to already subscribed users.
What Do they Cost Now?
For now, the prices are the same, the old subscribers will get a price hike from the next month and Netflix is busy delivering this information to the users already.
— Laura (@lbrgdl) April 3, 2019
The Basic plan had a $1 hike, from $8 to $9. The standard ($11) and the premium ($13) plans were increased by $2 respectively. The standard plan would now cost $13 and the premium would go to $15 now. And obviously adding that $0.99 that isn’t included here.
Why The Hikes?
Netflix hasn’t hiked prices in a long time so it had to do it anyways.
The company is also aiming to spend more on adding content to its service this year than the previous one.
The previous year the company spent $12 Billion on content on its streaming platform. This year they have already announced they are looking to spend around $15 Billion on adding new content, licensing and stuff.
New Competition from many Services.
The main competitors of Netflix are Hulu and Amazon Prime apart from many others. Meanwhile, while the latter increased its pricing, Hulu decreased it making it more for the competition.
Apple TV+, Disney Streaming Service, etc. will disrupt the market in 2019!!!
With Apple announcing it’s TV cum streaming service and Disney looking to launch its own platform for streaming 2019 is going to be messy and hard fought for consumers.
There weren’t any big contenders in the space earlier which could burn enough cash to leave Netflix behind.
Now as Apple and Disney enter the market later this year the market is going to see a tough war between them. Netflix, Amazon Prime, and Hulu are established already and have everything on their platforms. But, when Apple TV+ and Disney enter the market they’ll have a whole bunch of new content to offer that will attract users.
Marvel is the Key.
Believe it or not but Superheroes or Action is the genre that has kept people interested in movies for a long time. Marvel being a big name in the Superhero part is one of the biggest reasons why people might switch from Netflix. With Disney’s latest acquisition of Marvel and Fox, it has access to all the Marvel characters and TV shows that previously streamed on Netflix. This deal also led to the cancellation of all the Marvel shows on the platform. With Avengers: Endgame coming we all know the fan following marvel has. This could be a game changer for Netflix.
With this big competition, the ads will definitely increase and so will the quality of the content delivered.
The Award Winning Netflix Shows.
Netflix has won 23 total Emmys for shows including “The Crown,” “Stranger Things” and “GLOW” in 2018 alone. With the level of work and money, they’re investing they have gained rewards which make their movies top the ‘Must Watch’ space.
With so much Netflix has to offer it’s just fair to not feel bad about the price hike at all. The streaming space is finally getting some competition as well so it’s time you watch out for the best of all.