After it has opted to remove free trials altogether and let you watch some of its original content before actually signing up for a subscription, the streaming platform is reportedly increasing prices of standard and premium prices in the US. According to a report by Engadget, Netflix is increasing the price of the Standard and Premium plans by $1(~Php 50) and $2(~Php 100) respectively. However, the price of the Basic plan will remain the same at $9(~Php 450).
The new pricing scheme for both Standard and Premium plans will take effect in the next two months, with Netflix alerting users 30 days ahead of time. The price hike is expected, as analysts predicted it last month.
Netflix previously increased subscription prices in the US in 2019, but this did not affect Asia-Pacific markets like the Philippines. While we are not sure if this will affect the Philippines, Congress’ proposal of taxing digital services might prompt Netflix to raise its prices in the Philippines. “We have confidence that Netflix can raise prices in international markets given its deepening content library and outsized consumer value proposition,” Wall Street analyst Alex Giaimo said in an interview.
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