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Some big news from the world of streaming today: Netflix announced its first major price increase for the first time since 2014. This change affects subscribers with standard plans (2 screens simultaneously), which will go from $9.99 a month to $10.99 a month while subscribers with the premium option (4 screens simultaneously) will see their monthly bill bumped up from $11.99 to $13.99.
But don’t worry, the raise won’t take effect until November so you’ve got some time to get in all your binging if you don’t think the new price is worth continuing your subscription. There is a ray of hope for the pessimists out there, however: If you’ve got the most basic Netflix plan of one screen, your current price of $7.99 a month will not change.
”From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster,” said the $60 billion business in an official statement that underscores why a price increase at this juncture is pretty much crucial.
Netflix is no longer the streaming service it once was, having gone through several changes since its founding. There was a time when getting a red and white envelope with a DVD or Blu-Ray inside your mailbox every week was the norm. Then, the company shifted its business model in order to become a predominantly digital platform so as to faze out the costs of including the dying postal service. A shift came yet again with the introduction of original content and now Netflix is a multimedia powerhouse because it was single-handedly responsible for re-defining the industry of online streaming.
In short, the company has been thinking outside the idiot box, cast off the old-fashioned conventions of television and filmmaking by offering some truly entertaining (not to mention award-winning) shows and movies that are either created in-house or purchased via their distribution rights. These include, but are not limited to: Stranger Things, House of Cards, The OA, Travelers, The Defenders (and all the Marvel shows therein), Sense8, Okja, The Discovery, and Mindhorn.
So yes, the prices are going up, but instead of looking at it as being forced to shell out more of our hard-earned cash, we need to look at what our money is going to fund. You’re getting all-access to entire seasons and professionally made movies for the price of what is now essentially a modern day movie ticket. All the shows and films we love to binge are worth a fistful more of dollars, aren’t they?