Netflix Premium subscription skyrocket

Screenshot+from+Netflix+app

Treasure Stoutermire

Screenshot from Netflix app

Netflix is a multi-billion dollar streaming service founded by Reed Hasting and Marc Randolph on August 29th, 1997. The Netflix company started the idea of having their clientele rent DVDs by mail and charge a monthly fee rather than charging per DVD. In 2007, Netflix made a huge change by announcing that the streaming platform would allow its subscribers to stream tv shows and movies on their PCs instead of renting DVDs.

Not too long after, Netflix became available to stream on Xboxes, smartphones, and some TVs. In the beginning, Netflix’s Basic, Standard, and Premium prices ranged from $9-18 per month, depending on which plan you were subscribed to. The premium plan, which is also the only plan with 4k streaming, is increasing from $18 to $20 a month.

The company has seen great financial success due to the pandemic, but this year’s price increase leaves users frustrated due to the new add-on of charging extra for people who share their passwords with people outside their homes. One of the most upsetting parts about Netflix’s increase is that 4k streaming is only available with the premium plan which leaves consumers with what seems like the only option of choosing the $20 a month. Ultimately, consumers have shared their vexation all over social media platforms. It can be argued that Netflix is digging deep to find alternative sources of income with overpriced prices, which led to many people switching over to basic plans, with the idea of quantity over quality.