The Silicon Valley-based company, Netflix has once again increased their prices! It has become expensive as plans witness a 10% hike for US viewers.
The platform has boosted its premium plan 17% to US$14 (RM59.31) and the basic plan by US$8 (RM33.89) plan will stay the same. The company will begin notifying current users on Oct 19 and roll out the price hike over several months.
The Reason for the Price Surge
The company told AFP;
“From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster,”
The price increase was limited to the US and a handful of European countries including France, Britain, and Germany, Netflix had added. However, Asia might see a surge in its plan soon as the company has increased their prices across the borders.
The extra price will benefit Netflix to grow, both in its subscribers and spending.
Many might not be aware, but Netflix spent a whopping amount of $6 billion this year and plans to amplify its investment to $7 million in the coming year.
What is more, Chief Financial Officer David Wells has suggested that the company may even finance as much as $20 million on a single episode of TV.
It is also to be noted that due to Netflix investing in the production of original series, the giant witnessed a loss of $2.1 billion last 12 months ending June 3.
However, the brand has already announced the release of more than 200 originals, which will vary from TV shows, movies to documentaries and stand-up specials.
Comment and tell your which Netflix series are you addicted to!
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