Netflix raises prices for the fourth time
‘Netflix and chill’ just got a whole lot less chill. On Jan. 22nd , the popular streaming service raised prices across its U.S. plans for new subscribers, and for existing users over the next three months.
The most popular plan, originally costing $10.99, will now cost $12.99. The cheapest plan, initially costing $7.99, will now cost $8.99. The premium plan, formerly costing $13.99, will now cost $15.99.
Now you might be wondering, why has there been an increase in the price to begin with? Apparently, it is to fund Netflix’s push for original programming.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” a Netflix spokesperson said in a statement to USA TODAY.
It was reported by The Economist last year that the company was spending between $12 billion and $13 billion in original programming. The very recent Netflix film, “Bird Box” has been a hit and very meme-worthy. If you weren’t driven to watch the film, a few scrolls through Instagram, with its infinite number of Bird Box memes, definitely prompts you.
How do the Chanticleers feel about this jump in pricing?
Freshman Bryan Perry about his take on Netflix raising their prices, he gave a thoughtful response.
“I mean in my opinion, Netflix was one of the first true competitors to cable,” said Perry. “Now that there are so many other competitors, raising their prices will only hurt Netflix. Disney is also taking all their movies off Netflix which will also be a loss.”
Some people, like Bryan Perry, feel that the cost increase will be detrimental to the streaming service. Freshman Silas Stearns believes that, on the other hand, people will continue using Netflix due to brand loyalty.
“They know how loyal their fan base is and how much people need it. Who watches TV anymore?” Stearns said.
While many college students are upset that Netflix is raising their prices again, there is a silver lining. The music streaming service Spotify offers a ‘Premium for Students’ option at a discounted rate of $4.99 a month with Hulu, a competitor of Netflix, included.