A Twitter user named Bob has claimed that Netflix’s increasing prices have killed its streaming service. While it is true that Netflix has increased its monthly subscription price over the years, it is also important to note that the company has been investing heavily in producing original content. This has resulted in a vast library of exclusive content that is not available on any other streaming service. However, the increase in price has led to some subscribers canceling their subscriptions, as reported in Netflix’s first-quarter earnings for 2022.
Netflix announced its most recent price hike on January 14, 2022, and before that, the previous increase was in October 2020, when it went up by $1-$2 from the pricing revealed in January 2019. The basic plan now costs $9.99 per month (up from $8.99), its standard tier costs $15.49 per month (up from $13.99), and its 4K tier costs $19.99 per month (up from $17.99).
This means that Netflix is now charging up to nearly $20 every month for access to its service.While the increase in Netflix’s monthly subscription price may have led to some subscribers canceling their subscriptions, it has also helped to kill a significant portion of illegal streaming, as reported by the FBI shutting down two illegal streaming sites.
Recommended: What Happens if your Favorite Show Got Removed from Netflix? See the full Reason
This is because the reasonable price of streaming services makes it more accessible and affordable for people to watch their favorite movies and TV shows legally.In conclusion, while the increase in Netflix’s monthly subscription price may have led to some subscribers canceling their subscriptions, it has also helped to kill a significant portion of illegal streaming. However, the rise of multiple streaming services has led to a market swamped with options, which can add up to a significant monthly cost for consumers. It remains to be seen how this will impact the streaming industry in the long run.