"Netflix's ad-supported plan will now cost $8.99 per month, up from $7.99, while the standard plan jumps to $19.99 from $17.99. Its premium tier, the most expensive option, will rise to $26.99 per month, an increase from $24.99."
"The price hike has sparked outrage among customers, who highlighted that Netflix was set to purchase Warner Bros for $82 billion in cash, but is attempting to increase its revenue."
"'This is streamflation. Netflix is really testing the cancel button,' one frustrated subscriber shared on social media. Others slammed the streaming giant for its content, saying: 'Monthly prices keep going up, but the shows keep getting worse.'"
"Executives said the higher subscription costs are needed to fund record-breaking content spending and expand into new areas such as live events and video podcasts."
Netflix has increased subscription prices for all plans by at least $1 per month, with the ad-supported plan now costing $8.99 and the premium tier rising to $26.99. Customers sharing accounts will also face higher fees. The price hike has led to customer outrage, especially as Netflix plans to acquire Warner Bros for $82 billion. Executives justify the increase as necessary for funding content and expanding into new areas. Many subscribers express frustration over rising costs and perceived declines in content quality.
Read at Mail Online
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