Los Gatos’s Netflix raises monthly subscription prices in the US, Canada; shares soar
by SOURAV D | VIEW 1204
Netflix Inc., the Los Gatos, California-headquartered streaming industry giant, had said in a statement on Friday that the 25-year-old streaming industry pioneer would raise its subscription prices between $1 to $2 per month depending on the plan, as the American multinational media streaming trailblazer had been looking to spur up revenues in a bid to develop new programming what analysts believe could deepen its footprints into a highly congested streaming TV market. According to Netflix Inc statement, the Californian media streaming giant would heighten up prices of its ‘Standard Plan’ by $1.50 to $15.49 a month in the US, compared to a prior $13.99 per month, while in Canada, Netflix would raise the prices of its ‘Standard Plan’ to C$16.49 per month from an earlier C$14.99 a month.
Netflix to raise subscription prices in US, Canada between $1 to $2 per month
In point of fact, latest move from Netflix Inc that became effective immediately, had been the first price hike since the October of 2020, when a pandemic-led restriction had proffered a propitious boost to Netflix Inc among other mega-cap tech conglomerates.
Netflix has been one of few tech giants that had been benefitted by the most during the pandemic-led restriction back in 2020s. Meanwhile, pledging to provide a better experience, a spokesperson for Netflix Inc had told following the announcement, “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members”.