Source: CNET
Summary
Netflix is raising prices for its US subscribers. The cheapest ad-supported “Select” plan will increase from $7.99 to $8.99 per month. The price hike is the second in less than a year. According to Netflix, the change will allow the company to continue investing in content and improving the service. The new prices will take effect immediately for new subscribers.
Our Reading
The price increase follows a familiar script.
Netflix’s ad-supported “Select” plan now costs $8.99 per month, a $1 increase. The company says it needs the extra cash to fund more content and service improvements. Because that’s not what they said the last time they raised prices. Netflix is still cheaper than some of its competitors, but the price hike is still a price hike. The “Select” plan is still the cheapest option, but it’s getting less selective.
Author: Evan Null
