TROY, Mich. (WXYZ) — Big changes are coming to Netflix, with the streaming giant announcing another price increase for it's standard subscription plan.
Starting next month, the standard plan will rise to $17.99 per month, up from the previous price of $15.49.
This latest price hike is stirring up a lot of conversations among its millions of subscribers, and some of those conversations taking place at the Maple Leaf restaurant in Troy.
"They all seem to be going up along with basic cable. It's getting to be ridiculous," said Tony, a Netflix subscriber.
"I've got the Disney package, I have Apple, I have Amazon, I have Paramount, and then I have Netflix," said Rick Krupske.s
"We like Netflix at our house. We use it quite a bit," said Ben Rybiski.
Netflix has been known for its diverse range of content, which has kept viewers like Rick and others tuning in.
"With the series that they have, they had the fight, and they have sports on it now. There's a lot more options," Rick said.
The company is banking on its original content and strategic investments to keep viewers engaged and willing to pay more. With these price increases starting next month, streaming services like Netflix are pushing their subscribers towards the lower-priced ad-supported plans to increase their profit.
"Netflix said a good majority of their sign-ups came from their ad-based plan," said CNet Senior Editor Kourtnee Jackson." I think that says a lot that people are willing to sacrifice having to watch commercials in order to save a few bucks every month."
Jackson says during the last quarter of 2024, Netflix added 19 million new subscribers. The latest price hike comes after the latest earning report for the streaming giant.
"Some of the pricing is getting comparable to cable packages, so this is a good time for people to start auditing their bills to see what you want and need, and what you're willing to pay every month," Kourtnee said.
Some think these streaming services are becoming expensive. I asked the question: what's the cut-off price point before bailing?
"I like their service, I just don't know what I'd be willing to pay," Ben said.
"I think we are spending more than we ever have. But it's hidden because it's a monthly subscription type thing," Tony said.
"It's insignificant. They've got a lot more now with the expanded catalog," Rick said.
