Netflix Raising Prices For Two Of Its Subscription Plans

06 October, 2017, 00:15 | Author: Elaine Woods
  • Stranger Things

This is the logic that prevents some consumers from ditching cable: At a certain point, the cost of an internet plan plus various streaming services equals the price of the traditional TV bundle, or at least is competitive enough that it's mostly a wash. Existing Netflix subs will get a 30-day notification about when their prices will go up, starting October 19. Their higher end plan 4K with four simultaneous streams will go from $11.99 to $13.99.

We actually believe that these price increases rarely encourage people to actually cancel because of the price, but because they instead mark a good time to evaluate the value of a Netflix subscription. UBS maintains its "buy" rating on Netflix, with a 12-month price target of $225 per share.

The price increase was limited to the United States and a handful of European countries including France, Britain and Germany, Netflix said. In the second quarter of 2017, Netflix added 5.2 million new subscribers-1.07 million in the USA and 4.14 million internationally-putting it way out in front of its estimated 3.2 million total subscriber adds.

Netflix issued a brief statement, saying that pricing was adjusted to help add "more exclusive TV shows and movies" as well as introduce more product features. That's a two dollar increase from the current $11.99 monthly rate.

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Most of the subscriber growth came from outside the USA, where Netflix has invested heavily in establishing itself as a global television service.

The price change will see the second tier package of two screen viewing and HD increase from £7.49 per month to £7.99. Our detailed survey work over the years has indicated the content, not price, is the leading churn/churn-back factor amongst Netflix subs. It now costs $9.99, and it will increase to $10.99. According to Variety, Netflix is likely to spend $7 billion for original content creation next year.

Netflix isn't really in a position to cut costs when it comes to content creation either, as competitors like Hulu and Amazon are steadily pumping more and more money into their own original movies and shows as well.

The next season of Stranger Things better be fucking awesome.

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