The price of a Netflix subscription in the United States is going up… Again. As you might expect, people are upset over the decision that will see them paying more to see their favorite shows.
Netflix did it again: they raised the monthly subscription cost in the United States. Once upon a time, viewers only had to pay $10 per month to watch their favorite shows and movies on the platform, but not after several increases in price.
Reports suggested that there might be another increase, and now, a subscription will cost $14 per month, $1 more than before, and a premium subscription will cost $18 per month. Naturally, this move is drawing a lot of criticism from viewers.
Fans outraged over Netflix subscription price increase
Netflix is the most popular streaming platform, and is estimated to bring in $18.5 billion in 2020 alone. This has led fans to question why they are hiking up the price even further and their official Twitter account is getting bombarded by angry fans. They claim the price increase will help bring more content to the platform for its viewers.
Meanwhile Disney +, ESPN + and hulu combined are cheaper still
— ⚡️Danny Garcia ⚡️ (@Dannyis1337) October 29, 2020
@Dannyis1337 points out that multiple other streaming services are cheaper, which is true. You can currently get ESPN Plus, Disney Plus, and Hulu all for $12.99 per month.
Another tweet calls Netflix out for not being able to compete, and claims they are cancelling their subscription. This is likely due to the service claiming that they are hiking up the price to provide more content.
Netflix stock surges
Despite the outrage from many fans, Netflix stock shot up by over 4% following the announcement, according to CNBC Now. This increase suggests that the platform will continue performing well, and fans won’t actually cancel their subscriptions.
Netflix tryna get canceled.
— Charles (@cffj_) October 29, 2020
There are plenty of fans claiming they are going to cancel their sub over the price increase, but whether anyone will actually do it or not remains to be seen.
Hiking up the price hasn’t hurt Netflix much in the past, even with subscribers getting upset over it. It remains one of the top streaming services worldwide, and there will be plenty of viewers that won’t have any problems paying the extra dollar each month for their favorite shows.