Netflix has announced that the service will once again be raising their prices on all plans, meaning that every plan now requires payments of over $100 a year.
The streaming company has announced the price goes into effect today for new customers and in the coming months for existing ones. The $8 plan is going up to $9; the middle-tier, which is the most common plan according to Netflix, goes from $11 to $13; the premium plan which allows 4K and UHD streaming jumps from $14 to $16, making it one of the most expensive streaming services on the market.
Netflix is no stranger to price increases, as the company is increasingly trying to figure out how to make the service financially viable. Despite the massive number of subscribers and number of viral hits, Netflix has been losing far more money than it is making, with expected negative cash flows in the billions. As more and more companies start pulling away to launch their own services, like Disney, Netflix is in the unenviable position of needing to charge more while simultaneously losing more content. That means they have to fill the gaps with their own content which also costs truckloads of money.
I assume there are still more Marvel shows to cancel in the meantime.
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Netflix Raises Prices On Streaming Service Again