Netflix has given a shock to its users. The company has announced to increase the price of its plans. Netflix has said that it is continuously investing in films and shows.
The burden on the pockets of people watching Netflix is going to increase. Actually, the company has announced to increase the price of its subscription plan. Along with this, the company also informed that it has added 1.9 crore new subscribers during the holiday season and about 3 crore new subscribers in the entire last year. In the letter sent to its investors, the company has also informed about its profits, after which its shares saw a sharp jump.
This is the reason why the price is increasing
Company officials said that continuous investment is being made on films and shows. Therefore, on many occasions the company asks its subscribers to pay a little more so that it can invest more in improving Netflix. The company said that it remains in the leadership position in the market in terms of engagement. A paid subscriber spends an average of 2 hours on the platform daily.
More subscribers are coming due to ad plans
The company said that 55 percent of its subscribers are choosing ad plans and there has been a jump of 30 percent in this compared to the last quarter. This year the company will focus on expanding its ad business.
The increased price will be applicable in these countries
The prices of Netflix’s increased plan will currently be applicable in Argentina, Canada, Portugal and the US. In the US, the company has increased the price of its plan by $2. After this, the premium plan here has become $25 (about Rs 2,160) per month and the standard plan has become $18 (about Rs 1,555). The plan with ads has become costlier by $1 and now you will have to pay $8 (about Rs 690) every month for it. The price has not been increased for customers in India at present.
