Netflix has dropped some major news on all of its subscribers and potential subscribers. They announced that they will be raising their subscription prices. The streaming giants basic plan went from $7.99 to $8.99, their standard plan went from $10.99 to $12.99, and their premium plan went from $13.99 to a whopping $15.99!
The price raise seems a bit shocking at first glance, but when you really think about it, Netflix’s standard plan – which is arguably their most popular plan – has only gone up by two dollars.
This price raise is a bit surprising. However, Netflix’s subscription hike is being used to support their own content. The price hike will be a big help in aiding the company in producing more big budget content like the immensely popular film “Bird Box” and popular shows like “Stranger Things”.
With this increase in price, will Netflix lose many subscribers? Most likely not. Netflix, in recent years, has grown in popularity. The streaming company has become a household name and is often considered a necessity for college students.
Having a Netflix account or using one, has become a status symbol and a key to unlock the door to popular conversations on Twitter. For example, Netflix’s recent film “Bird Box” became a huge meme and topic of discussion on social media sites like Twitter and Instagram.
If you don’t have a Netflix account, you can’t watch “Bird Box” which would leave you out of all the entertaining memes and conversations about the film. Netflix is also a huge part of pop culture. The popular and common term “Netflix and Chill” is a prime example of the streaming service’s popularity. Due Netflix’s consistent success in releasing newsworthy content, most people will continue to pay for the subscription service despite its price raise and more potential price raises in the future.
Netflix has managed to generate a lot more buzz than it’s fellow streaming services like Hulu and Amazon Prime Video, because they continue to put out and create newsworthy content that practically breaks the internet.
Netflix’s popularity hasn’t showed any signs of slowing down, and with its newly raised prices, they’ll have more funds to create more buzzworthy content, realing customers in to continue paying for the streaming service regardless of price. Netflix has us all hooked whether we know it or not. The honest truth is that most of us wouldn’t dare cancel our Netflix accounts and be left out of our precious Twitter conversations! Nice job Netflix, Nice job.