Netflix to End Basic Plan, Raise Prices in Select Markets

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Netflix, the world’s leading streaming service, is planning to raise prices and kill its basic plan in some countries. The move is part of the company’s efforts to boost revenues amid rising competition from rivals such as Disney+ and HBO Max.

In a letter to shareholders, Netflix said it would be phasing out its basic plan, which currently costs $9.99 per month in the United States and $6.99 per month Basic with ads.

The company said the plan would be replaced by a new plan that offers lower resolution and fewer features.

Netflix also said it would be raising prices for its other plans:

  1. The standard plan, which currently costs $15.49 per month in the United States, would increase to $19.99 per month
  2. The premium plan, which currently costs $19.99 per month, would increase to $29.99 per month.

The changes will take effect in Canada and the United Kingdom in March. Netflix said it would roll out the changes to other countries in the coming months.

The changes to Netflix’s pricing structure are likely to be met with mixed reactions from consumers. Some subscribers may be willing to pay more for access to the company’s extensive library of content, while others may be disappointed by the price increases.

Netflix’s decision to end the Basic plan is likely to be particularly unpopular with consumers who are on a tight budget. The plan offered a basic streaming experience at a relatively affordable price.

The price increases for the Standard and Premium plans are also likely to be a concern for consumers. The Standard plan is already one of the most expensive streaming plans on the market. The price increase will make it even more expensive than competing plans from Disney+ and HBO Max.

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