Netflix raises plan pricing for 58 million US subscribers

Following its move of raising premium Canadian subscriptions by $3 late last year, Netflix is increasing subscription costs in the US as follows. $10.99 to $12.99 per month for premium plans; basic plans went from $7.99 to $8.99; and the premium 4S plan with ultra-high-definition quality has increased from $13.99 to $15.99.

This comes at a time when Netflix original content doesn't seem to be as compelling and new entrants in the streaming video space, including Disney, DC Comics and Apple are gearing up to launch streaming services featuring original content. Netflix is losing all Disney content, including Marvel Studios, Star Wars, Disney and Pixar shows, that's a huge chunk of popular content and a huge draw for many subscribers who might look elsewhere not that pricing has increased and the range of quality content has perceptively decreased.

HBO Now is $14.99 for the basic plan and Hulu costs $11.99 for ad free subscriptions. Amazon Prime Video is bundled with Amazon Prime subscriptions. US consumers have never had more choice in the streaming video spectrum and Netflix may soon be seeing a dramatic dip in subscriber numbers unless it can continue bringing compelling originals shows.

Source: Recode