Netflix Hints at Price Increases, Plans to Retire Cheapest Plan In UK and Canada
Netflix will pull cheapest ad-free plan after latest price increases https://t.co/QWpEmyVTew by @apollozac
- 9to5Mac (@9to5mac) January 23, 2024
To the surprise of absolutely nobody, prices will just continue to go up over at Netflix, this despite quarterly growth ever since their password sharing crackdowns began.
With the growth in the ad tier, the company repeated its plans to phase out its Basic membership tier ($11.99) in the coming months. It will retire the plan - currently the least expensive ad-free option at Netflix - for all subscribers in Canada and the U.K. in the spring “and tak[e] it from there,” the company said in its letter to shareholders.
Netflix stopped offering the Basic tier for new subscribers late last year.
They also signaled the potential for more price increases. “As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements, which in turn helps drive the positive flywheel of additional investment to further improve and grow our service,” the letter noted.
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