Raising prices is generally disliked by Netflix subscribers, but the recent increase has pushed many to their limit. Last week, Netflix increased all subscription fees without prior notice, first informing shareholders and then customers. This action came at a time when inflation is impacting most people significantly, providing an opportunity for Netflix users to reassess whether they truly value the service. Some subscribers, who hadn’t canceled in years or even decades, have decided to take a break now. Others will return once a favorite show or movie premieres, but some have sworn off Netflix altogether due to principle.
On January 21st, 2024, Netflix disclosed its fourth-quarter earnings report and outlined its forthcoming strategies. The announcement stated that all subscription plans would see a price hike effective from the same day. The cost for the Standard plan with Ads rose from $6.99 to $7.99 monthly, while the Standard plan increased from $15.49 to $17.99, and the Premium plan went up from $22.99 to $24.99. Additionally, the extra household fee, if opted for, would now cost $8.99 per month, an increase from its previous rate of $7.99.
Calculating the figures, the annual cost for the Premium plan amounts to approximately $300, excluding sales tax and multiple households. This expense led Reddit user u/krazykatz911 to discontinue their subscription permanently, labeling it as “blatant overcharges.” They expressed their dissatisfaction, stating, “I’ve been a customer for 20 years. The content is poor quality. A significant portion of the shows/movies are in various languages. While that’s acceptable, allow users to filter the content they want to see. Instead, you’re forced to play it to discover the language, which is inconvenient.
The post continued, “Many of them are quite old and can be found free on Prime already. It seems they continually increase their prices as if it’s an essential expense people can’t do without. I manage to have four streaming services for less than half of what Netflix demands yearly. Farewell, greedy Netflix.
While some individuals expressed agreement, it’s important to note not everyone felt the same way. A few mentioned they would temporarily halt their subscription until their preferred series came back on, though this might be soon if they follow popular shows such as Stranger Things, Wednesday, or You. Some were simply trying to cut costs, but others aimed to express displeasure by cancelling and hoped Netflix would feel remorse over the price increases, taking it as a clear message from their customers.
Regularly, a rise in prices sparks discussions about tactics for temporarily halting subscriptions without completely cancelling them. Notably, Netflix offers this feature allowing customers to postpone payments for several months without terminating their subscription. For certain individuals, the process of pausing and resuming subscriptions is too much trouble, adding to the annoyance caused by price increases. However, for others, this temporary pause option still makes streaming more appealing than the traditional cable system.
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2025-01-29 19:10