Netflix Raises Canada’s Monthly Subscription Price-National

Netflix Inc has announced that it will raise its monthly subscription price in Canada by $ 1.50, from its standard plan of $ 14.99 to $ 16.49, to help pay for new shows to compete in the crowded streaming TV market.

The company also raised US prices from $ 1 to $ 2 per month, depending on plans. The standard plan that allows for two simultaneous streams is currently from $ 13.99 in the US to $ 15.49 per month.

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The first price increases in these markets since October 2020 were immediately implemented for new customers. Existing members will see the new price in the coming weeks when they receive their monthly invoice. No price increases have been reported so far.

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“We understand that people have more entertainment options than ever before and we are committed to providing our members with a better experience,” a Netflix spokeswoman said. I am.

“We are updating prices so that we can continue to offer a variety of high quality entertainment options. As always, we offer different plans to help members choose the price that fits their budget. “We do,” added the spokesman.

The world’s largest streaming service faces the most competition ever with companies trying to attract viewers to online entertainment. Walt Disney Co, AT & T Inc’s WarnerMedia, Inc, and Apple Inc are one of the rivals that are pouring billions of dollars into new programming.

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Netflix said it will spend $ 17 billion on programming in 2021. The company has not disclosed its 2022 spending.

The US price of Netflix’s premium plan, which allows you to stream four streams at a time and in Ultra HD, has been raised from $ 2 per month to $ 19.99. With Netflix’s base plan, one stream cost $ 9.99 per month, up $ 1.

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In Canada, the premium plan has increased by C $ 2 to C $ 20.99, and the base plan has not changed at C $ 9.99.

The United States and Canada are Netflix’s largest regions with 74 million customers as of September 2021. Most of the company’s recent growth comes from abroad.

Netflix subscriber growth slowed from the early boom of the COVID-19 pandemic, but recovered with the help of a global phenomenon. Squid game, Korean dystopian thriller released in September. Worldwide subscriptions have reached 213.6 million.

The company’s next subscriber report is scheduled for Thursday when Netflix announces quarterly revenue. Analysts said the company reported 8.5 million new registrations between October and December, with 222 million subscribers worldwide, according to Thomson Reuters I / B / E / S data. I’m predicting.

— Report by Lisa Richwine

Netflix Raises Canada’s Monthly Subscription Price-National

Source link Netflix Raises Canada’s Monthly Subscription Price-National

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