Netflix is Raising Prices Again

The biggest name in streaming has announced another price increase, the fourth since the streaming service portion of the company launched in the late aughts.

Netflix will reportedly use the increase in revenue to help pay for the massive costs associated with their original programming library.

Thinking back to when Netflix started, the service was considered an afterthought by content owners, which allowed for Netflix to scoop up tens of thousands of titles for their library. But as streaming has become one of the most popular methods of consumption when it comes to television and movies, content owners caught on and are now charging considerably more.

Not to mention the increase in competition from other streaming services like Hulu, Amazon Prime, and the assorted proprietary services being built out by companies like Disney and NBC. This gives content creators a wide range of services to offer exclusive content deals to, making the bidding process far more expensive than it once was.

Netflix felt backlash last time they raised prices, but mostly only on social media platforms. It appears the price increase didn’t slow subscriber growth. While people were upset at the small price increase, most people didn’t seem to think it would be worth it to follow through with cancelling.