COVID-19 has caused a massive surge in subscribers across all streaming platforms, especially Netflix. HBO Max is $15.99 per month but has movies in theaters available at home to subscribers. This has created fierce competition for Netflix and all streaming services. For years, Hulu and Netflix have been battling each other over being the essential streaming service for consumers. With HBO Max and Disney+ added to the picture, Netflix needs more funding for bigger productions to keep subscribers.
The streaming service giant is raising its subscription price from $12.99 to $13.99 by the end of February. Though, Netflix’s price hike does come with good news to current or future subscribers. Zendaya, Meryl Streep, Leonardo Decaprio, Dwayne Johnson, Idris Elba, and many more stars will be joining the streaming platform due to COVID-19 significantly affecting the entertainment industry in 2020.
Netflix currently has three plans for streaming, with basic starting at $8, standard at $13.99, and premium at $17.99. The basic program allows subscribers to watch on one device at a time but is not HD or Ultra HD available. Subscribers on the standard plan can watch on two devices with available HD at the same time. Ultra HD and HD settings are included in the premium package for subscribers to manage on four different devices at once. Netflix subscribers can cancel their subscriptions at any time.
This is the third monthly fee increase in the last three years, but Netflix argues that adding more new movies and shows is why the price increases. Subscribers want more action-packed movies and better shows, which requires a higher budget. Netflix is also raising the price to keep up with the streaming service expectations that are continually changing.
Before the pandemic, streaming was slowly gaining popularity. COVID-19 has made streaming services like Netflix launch many future productions that subscribers can look forward to watching. Netflix will continue to add new subscribers from all over the globe regardless of a pandemic or not.
The price increase of streaming for Netflix has a negative impact on subscribers because other streaming services will raise their prices. However, most subscribers will still agree the monthly fee is fair, considering it’s about the same as one movie ticket. Netflix is the exact cost with thousands of movies and shows you get to choose from to watch in the comfort of your home.
Featured image by James Yarema via Unsplash.
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