Netflix appreciates all the support from their consumers but it’s time to make more profit.
Per reports, Netflix is planning to jump the price by 13% to 18%, the biggest in their company’s history.
So plans that start at $8 will go to $9, $14 to $16 and $11 to $13. It will start next billing cycle and for new subscribers will be charged the updated amount. Not too far from HBO, Amazon and other competitors monthly charge.
In 2017, Netflix made $558.9 million and in the first quarter of 2018 had 7.4 million new subscribers, $290.1 million in net income and shares jumping up to 60%. 5 million subscribers were outside the US who have a higher subscription price that raised their revenue.
Netflix ‘Birdbox’ has 45 million views in the first week of release and Netflix continues to flourish with their original content. Some other well-known originals are series ‘Stranger Things’, ‘Orange is the New Black’, ‘House of Cards’, ‘Narcos’ and ’13 Reasons Why’.