You're about to pay a little more for Netflix. Yesterday, they announced a price-hike ...their second increase in 15 months.
The standard, most popular plan will go from $11 per month to $13 The lowest plan will go from $8 to $9, and the highest plan with ultra-high definition will jump from $14 to $16. So most people will be paying another $2 a month, or $24 a year.
The rate change will be phased in over the next three months for all current customers, and it'll be immediate for any new subscribers.
A lot of furious people are flooding social media to pretend that they're so upset they're canceling. . . but Netflix knows most people won't do that. Multiple recent surveys have suggested that Netflix was underpriced. In one, 64% of subscribers said they'd pay up to $15 a month for Netflix, and only 36% said they'd consider canceling if they raised their rates. In another, 83% said they'd be willing to pay $2 more per month to keep Netflix ad-free. And in yet another, 21% said they'd be cool paying MORE than $16 a month.
Obviously, a big reason for this is that Netflix is keeping subscribers happy. Last month, they dropped $100 million to keep "Friends" for another year, and Variety says they spent $13 billion on content last year. (WOW! All those original shows ain't cheap!)
By comparison, HBO "only" spent $2.5 billion in 2017, and CBS spent $4 billion.
According to The Verge, Netflix premiered "approximately 700 original shows in 2018 alone, and is expected to develop more this year."
I honestly don't mind the rate increase. I canceled my cable years ago because I got sick and dang tired of paying upwards of $150 a month for TV I barely watched. We have Netflix and Amazon Prime, which is about $26 a month... so even with the rate increase, I'm still saving loads of money over what cable/satellite costs, and I'm perfectly happy with it. I don't watch enough TV to justify the cable bill, and there's plenty on Netflix to keep me occupied when I want to watch something.