NEW YORK: Netflix is raising prices for its video streaming customers in the U.S. and Canada, less than a year and a half since its last price increase, as competition from other streaming services increases.
The Los Gatos, California, company said Friday that prices are going up by $1 to $2, depending on the plan. The “standard” plan that most people take is increasing by $1.50, to $15.50. The Canadian version is going up by the same amount in local currency, to $16.50 Canadian dollars.
Price increases are becoming more of a regular feature at Netflix, which is facing saturation in the U.S. market. Of Netflix's 213.5 million subscribers, some 74 million are in the U.S. and Canada. It got an influx of global subscribers early in the pandemic, but is investing in video games as it looks beyond movies and TV for growth.
In the U.S., Netflix's most expensive plan is increasing by $2, to $20; its basic plan is up $1, to $10. The plans vary based on variables like the number of screens users can watch Netflix on at the same time and the number of phones or tablets that can have downloads. The company still mails out DVDs in a service that requires a separate plan.
The price increase is effective as of Friday. Netflix will tell customers by email and inside the Netflix app before the new price is applied to them.
Raising prices carries the risk that people will cancel. Netflix remains the dominant U.S. streaming service, but others, such as HBO Max and Disney+, have increased in popularity.
Netflix shares gained in late trading after news of the price increase came out. The stock closed up $6.49, or 1.3%, to $525.69. The company reports its fourth-quarter financial results Thursday.
Netflix upping US, Canada prices with competition growing
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Netflix upping US, Canada prices with competition growing
- The Los Gatos, California, company said Friday that prices are going up by $1 to $2, depending on the plan
- The Canadian version is going up by the same amount in local currency, to $16.50 Canadian dollars
Saudi Media Forum expects large rollout of speakers, panels ahead of 5th edition
- More than 300 participants expected to discuss issues, challenges facing sector
- Leading platform for media exchange will explore ways to keep pace with a rapidly changing world
RIYADH: The fifth edition of the Saudi Media Forum due to kick off in early February is expected to attract more than 300 participants across hundreds of panels.
The forum aims to explore the future of media in a rapidly transforming world, reflecting the dynamic cultural and developmental landscape of the Saudi Arabia.
High-level editors, reporters, and speakers include Karen Elliott House, former executive editor of The Wall Street Journal; Julie Pace, executive editor and senior vice president of the Associated Press; and Ben Smith, co-founder and editor-in-chief of the global news platform Semafor.
The forum is a leading Saudi platform for media exchange and cooperation, fostering capacity building, stimulating innovation, and building bridges of communication locally and globally.
The fifth edition reaffirms the forum’s status as a pivotal event in the year of media transformation, bringing together the most prominent media figures to discuss the issues and challenges facing the sector, and ways to keep pace with a rapidly changing world.
The forum includes the Future of Media Exhibition, which will bring together government entities and private companies, both local and international, under one roof. Exhibitor pavilions will showcase the latest products and contributions in media, radio, and television. These pavilions, alongside the dedicated presentation platform, provide an opportunity for participants to share their innovations and specialized services with visitors.
The exhibition’s main stage will offer comprehensive insights into the media sector through panel discussions, dialogues, and workshops featuring local and international speakers, while also providing opportunities for signing cooperation agreements and partnerships.
