Netflix is planning to increase the cost of its online streaming subscriptions, according to a report published by The Wall Street Journal.
Netflix is one of the largest online streaming platforms in the world. Over 238.4 million users pay to watch their favorite shows on the platform. The streaming service platform changed its pricing last year, which did not impact the user count much and kept the company’s subscriber base growing. However, it may soon bring another round of price hikes, which may affect the user count noticeably.
Last year, Netflix changed its pricing structure for all plans, starting with the basic plan of $6.99 monthly. It increased the ad-free tier to $15.49 per month and hiked the premium plan to $19.99/month. It also axed the basic ad-free plan of $6.99/month that was the most popular among its mid-tier audience segment.
Netflix has taken multiple measures to curb its clone user count. Clone users share the same subscription account on multiple devices, violating Netflix’s user policy. But the platform could not do much apart from subtly urging people to quit sharing their accounts as they may face permanent ban, which they never did. However, it abruptly devised a new mitigation measure by removing password sharing and charging an extra $7.99 to add a sharing account.
The plans still allow users to use the same account on multiple devices of different categories. Users can log in and watch Netflix content using the same account on their mobile device, Television, Laptop, and smart VR device. Only if a user wants to share their account with someone outside their household use policy will they need to pay the extra charges.
WSJ revealed in the report that Netflix is planning to increase the prices after the Hollywood actors’ strike ends. WGA has partnered with the Writers Guild of America after it ended its strike and began voting on forming a contract with major Hollywood studios, including Netflix. Other streaming platforms like Hulu and Disney Plus will also have to share their streaming data with the WGA to give insights to writers on how well their content performs. Though the tentative time of increase is a few months, Netflix declined to comment on how much the price hike might be.
The contract Netflix and other streaming service platforms are building will also increase the due compensation by 18% for the high-budget productions and 26% in the residuals. Even after these changes, the WGA states that this will account for only 0.2% of Netflix’s overall revenue.
Hollywood actors remain on strike, and major streaming platforms are waiting for them to end to connect and form new-age contracts with them to compensate for their hard work and meet their demands duly. While Netflix is also working on building AI capabilities, it assures that the new feature will only help the artist fraternity earn more without reducing their importance in the industry.
Before we delve further into reducing your cost of Netflix streaming, remember that multiple scammers online are trying to do much more harm than the discounts they promise to lure you. Be smart and look for genuine solutions like the ones we mentioned below:
If using a VPN is legal in your country, you can simply change the location of your device to a country with relatively cheaper pricing and still watch all of the content you want. Just check if the country you opt for has permitted the content you are looking for. You cannot renew a subscription using this method. So you have to buy a new subscription each time. Wait for your cycle to end, cancel the subscription, and buy again.
If you are a staff member of one of Netflix’s long list of partner companies ranging from marketing to technology, you might have the option to get discount coupons that you can use on the website.
While Netflix does not offer direct discounts, it has partnered with various external subscription companies like Telecom providers to access Netflix for a certain period. For example, you can buy the prepaid plan from Airtel, which also offers a month’s Netflix subscription free. This saves money through complementary additions. You can get these bundled plans from telecom, broadband, and OTT service platforms.
Netflix opted for an indirect approach of providing gift cards at stores that people can redeem for their online subscriptions. These cards are hard to find in offline stores, but you can buy them from online shopping platforms like Amazon and PayPal. The only way to make Netflix cheap through this method is when you get these cards from someone else. So, next time, ask for a specific gift from your gifters to save some Netflix money.
With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!
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