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Netflix has once again raised its subscription prices, leaving many users surprised and concerned about the increasing costs. This latest hike affects various plans, particularly impacting those who prefer ad-free streaming. As the world's leading streaming platform continues to expand its content library, these price adjustments have become a regular occurrence.
The changes in subscription fees come at a time when its popularity remains robust, particularly in markets like Australia. With a significant portion of the population subscribing to the service, the increase is likely to have widespread effects. It has justified the hike by pointing to the addition of new entertainment value and the need to adapt to market changes.
The last time Netflix increased its subscription prices was back in 2013 when the basic plan was increased from $9.99 to $11.99 per month and the premium plan went up from $19.99 to $22.99.
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What are the new Netflix subscription prices for Australian users?
Netflix has informed Australian subscribers that there will be a hefty increase in price for ad-free plans. The premium subscription which entails unlimited ad-free movies and shows has leapt from $22.99 to $25.99 monthly. In other words, a 13% higher cost means an extra $3 per month for subscribers of the same service.
Also, the standard plan with ads increased from $6.99 to $7.99 each month which represents a climb of 14%. Meanwhile, the standard ad-free plan went from $16.99 to $18.99 monthly, increasing by 11.8%.
New pricing breakdown for Australian users
- Standard with ads: From $6.99/month to $7.99/month
- Standard without ads: From $16 .99/month –to $18.99/month
- Premium: From $22.99/month –to $ 25.99/month
When will the new subscription prices be implemented?
The company has yet to release an official date for when they will follow their new subscription rates. Although the steaming company has assured users of receiving email notifications on new subscription rates. The customers are expected to know price changes at least a month before their billing dates.
The pricing strategy is becoming more customized per territory. The Co-Ceo says they are now moving towards multiple pricing tiers with different pricing points across various countries. In a recent Forbes report, he was quoted saying
“I think those price points are going to become increasingly different,”
Is there a drop in Netflix users in Australia?
The streaming app is still the leading Australian streaming service even after prices were increased. In a report by Forbes, it was mentioned that a YouGov study found, 43% of Australians have Netflix accounts and Netflix claims that 68% of Australians have access to its platform.
In the same report by Forbes, it was also mentioned that Netflix has claimed globally, that there are 270 million subscribers on the app, who watched 183 billion hours of content in the year 2023 alone.
A Telsyte data report quoted in Forbes also revealed the rising number of connected devices in homes across Australia indicates Netflix’s popularity is likely to continue. Telsyte predicts Australia will have around 353 million internet-connecting devices by 2027 up from around 253 million in use this year alone.
Bridgerton 3 helped to push the increased subscription prices
This broader price rise happened at the same time as the release of the much-awaited season three of Bridgerton which premiered on May 16. To promote the new series, showrunner Jess Brownell went with stars Luke Newton and Nicola Coughlan to Bowral located in rural New South Wales. The third season is yet to receive any viewership figure but it is projected to have a high turnout.
Current hikes in its pricing regime point out how the streaming giant is trying to balance more content as well as higher operational costs. While these changes may strain some customers financially, it also suggests that viewers can anticipate an influx of premium quality entertainment since the company seeks ways how to make better user experiences within its platform.
