May 17th 2024.
Attention all Australian Netflix subscribers! You may have noticed a slight change in your monthly bill recently. That's because Netflix has decided to increase its prices by up to 14%, meaning you'll have to fork out a few extra dollars each month. But wait, before you start panicking, let us fill you in on the details.
First off, the premium subscription has gone up from $22.99 to $25.99, while the standard subscription has increased from $16.99 to $18.99. And for those of you who have the standard subscription with ads, you'll now be paying $7.99 instead of $6.99. We know, it's not the best news to hear, but don't worry just yet.
Despite the price hike, many existing users have not yet been informed by the streaming giant. However, fear not, as Netflix has updated its website with the new prices. Plus, you will receive an email 30 days before the new prices take effect, depending on your billing cycle. So, you'll have plenty of time to prepare for the change.
A Netflix spokesperson has stated that the company offers a range of prices and plans to cater to different needs. And as they continue to provide more value to their members, they occasionally need to adjust their prices. The starting price for a Netflix subscription in Australia is now $7.99, which is still relatively affordable compared to other streaming services.
This price increase comes after Netflix's strict crackdown on password sharing last year. According to comparison service Finder, the cost of an ad-free Netflix subscription has doubled in less than ten years since its launch in Australia. It has gone from $8.99 to $18.99, which is a larger increase than inflation.
Sarah Megginson, a personal finance expert at Finder, believes that this price increase may lead to people cancelling their subscriptions. With the rising cost of living, streaming services could be one of the first things to go. People often have multiple subscriptions, and with significant increases like this, it's becoming more expensive to remain subscribed.
As the publisher of this website, we want to mention that Nine, who owns competing streaming service Stan, owns the company. We just want to keep you informed and provide transparency in our reporting. So, there you have it! That's the scoop on Netflix's price increase. You may not be thrilled about it, but hopefully, this information has helped you understand the situation better. Happy streaming!
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
