Netflix raises subscription fees again to $7.99; Here’s what we know
Netflix has once again raised the cost of all of its membership plans, raising the price of its ad-supported basic plan to $7.99 a month from $6.99.
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By doing this, Netflix becomes the least expensive streaming service in the US, joining Comcast's Peacock and undercutting the prices of other competitors. More than half of new sign-ups in areas where Netflix is available are through the ad-supported plan, which has emerged as a major contributor to the company's subscriber growth. Co-CEO Greg Peters addressed the problem by saying that Netflix's service had improved compared to the other platforms. He argued in favor of measuring the cost rise in terms of the value that the platform gains.
The basic monthly plan of Netflix raised to $7.99 per month
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-117467943»>With the new pricing scheme, Netflix has set a monthly price of $7.99 for its basic plan, containing ads, and $17.99 for the one without ads. The premium plan, at $24.99 a month, allows for four-to-one simultaneous streams and ultra HD streaming by single subscribers.
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While these price adjustments illustrate the company's confidence in its offerings, they point to the significant ongoing trends in the streaming market, where competitors are exerting enormous pressure.
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