Netflix to raise its prices again

Netflix is reportedly planning to increase the prices of its ad-free subscription plans in several markets, starting with the US and Canada in the next few months. However, Filipino subscribers do not need to worry yet, as the price hike will not affect them for now.

According to The Wall Street Journal, Netflix is waiting for the strikes of actors and writers to end before announcing the new prices. The strikes have disrupted the production of many shows and movies, affecting the supply of new content for Netflix and other streaming platforms.

Netflix has been raising its prices regularly in recent years, as it spends more on creating original content and acquiring licenses from other studios. The last price increase was in January 2022, when its ad-free standard plan went from $14 to $15.49 per month, and its 4K plan went from $18 to $20 per month in the US.

In contrast, Netflix dropped the price of its subscription plans in the Philippines in February 2023, as part of a global strategy to attract more customers in emerging markets. The standard plan went from ₱459 to ₱399 per month, while the basic plan went from ₱369 to ₱249. The mobile and premium plans remained the same at ₱149 and ₱549, respectively.

Netflix also cracked down on password sharing in May 2023, which charges $7.99 per month in the US for each user outside the main household who wants to access the same account. In the Philippines, extra member slots cost ₱149 per month.

Netflix has over 200 million subscribers worldwide, but its growth has slowed down in recent quarters due to increased competition from other streaming services like Disney+, HBO Max, Amazon Prime Video, and Apple TV+.

Whether Netflix’s price increase will affect its subscriber base or not remains to be seen. For now, Filipino users can enjoy watching their favorite shows and movies on Netflix without worrying about paying more. But they should also be prepared for possible changes in the future.

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Bryan is a geek at heart and a tech enthusiast by choice. He has a strong background in corporate communications, marketing services, and customer relations having worked in the telecommunications and banking sectors for over two decades. In his spare time, he enjoys watching clips on YouTube and binge watching shows on Netflix.

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