Video streaming service Netflix is increasing its prices in the United States amidst increasing competition in the field. This is coming barely a month after Netflix reduced prices in its India operations. Netflix remains the dominant force in the highly competitive video streaming market and the pandemic had seen a surge in demand for streaming services like Netflix, HBO Max, Disney Plus, among others. The marginal increase in the various paid plans is an indication of a growing trend over the years.
Specifically, a $1 increase means that subscribers in the US will pay $9.99 for the basic plan, while the HD plan chalked up an additional $1.50 at the new price of $15.49. The 4K plan which is the premium Netflix offering added $2 to its current price of $19.99. For existing subscribers, there is a period of grace within which they will be reminded of the new rates and subsequently charged. Netflix says it will send emails to existing subscribers when it is 30 days to the new measure. Netflix Canada is also affected by the new price regime.
On the other hand, Netflix India had seen a decline in its prices across all packages. The reductions from the basic to the premium package were between Rs. 50 (~$1) and Rs. 200 (~$3). The new prices became effective on December 14 and was seen as a promo offer for the New Year. Netflix monthly fees are however slightly higher than that of its competitors in the market like Amazon Prime and Disney+Hotstar.
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