Netflix Is Raising U.S. Prices And People Have A Lot To Say About It
Netflix is raising its prices in the United States yet again and people on social media have a lot to say about it.
The increase is the largest since the company launched over a decade ago and the first since 2017. The hike will shift the price point of its most popular plan from $11 per month to $13, the lowest plan will go up to $9 per month and a premium plan offering ultra-high definition will increase to $16.
All new subscribers in the U.S. will see the shift in prices while existing Netflix users will experience the change in the next three months. Outside of the U.S., about 40 Latin America countries where Netflix bills in U.S. currency will also be impacted.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” said Netflix in a statement to The Associated Press.
The publication reports that Netflix will use the extra money to fund the service’s “huge investment in original shows and films and finance the heavy debt it has assumed to ward off rivals such as Amazon, Disney and AT&T.”
While Netflix has to contend with other streaming services like Amazon and Hulu (with others from Disney, AT&T’s WarnerMedia, and Apple on the horizon), the service continues to churn out original TV series and movies. As per The Verge, Netflix had “approximately 700 original shows in 2018 alone and is expected to develop more this year.”
In response to their recent price hike, many Netflix users offered their two cents on Twitter:
Netflix doesn't need to raise their prices. We didn't ask for all these trash originals that they cancel after 1 season.
— Chandra (@Chandralierr) January 15, 2019
I'M QUITTING NETFLIX! THEIR SELECTION IS TOO FOREIGN AND HEAVY INTO CHICK FLICS! AND FOR THEM TO RAISE PRICES? I PROTEST!!! AMAZON PRIME IS BETTER THAN NETFLIX.
Netflix is raising its prices again, and the news is sending the company's stock up more than 6 percent
The rate— Tad Toring (@BreyStoner) January 15, 2019
anyway, this is an obvious move. Netflix is $8 billion in longterm debt, spent $100 million on retaining Friends, and is adding original content at a rate Landgraf thinks is unsustainable.
For Netflix to continue: raise prices or introduce ads. Not ever going to do the latter. https://t.co/pXSKls09Xs— julia 🤔 alexander (@loudmouthjulia) January 15, 2019
Netflix, citing rising costs, is raising its prices by 13% to 18%, the largest increase in its 12-year history. It's a good thing there is no inflation. Imagine how much larger the price hikes will be once inflation really takes hold!
— Peter Schiff (@PeterSchiff) January 15, 2019
When #Netflix $NFLX hikes its prices, its share price rises up ! pic.twitter.com/JXKxNTkodQ
— SECURIX (@securixhk) January 15, 2019
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This article originally appeared on HuffPost.
