Netflix is still king of today’s streaming landscape, but its claim to the throne is far from secure. Services like Disney + and HBO Max have been making big moves to attract subscribers in recent weeks, threatening Netflix ‘s place at the top.
In a move that may have spun some users, Netflix confirmed in September that it would raise prices for its most popular plans. For new subscribers, the price increase has already taken effect. Now, existing members have started receiving warnings about when their monthly expenses will go up.
Netflix is increasing membership rates by $ 1-2
Netflix alone is not raising its prices, as Disney + also plans to raise its price sometime in March 2021, according to CNN. This increase is believed to be only $ 1, bringing the cost of the service to $ 7.99 per month. Disney has said such an increase will be needed to meet its ambitious production goals and reach profits by 2024.
Disney confirmed plans for price increases after its big investor call Dec. 10. At this event, it announced plans for a major series of original releases from Star Wars, Marvel Studios, Pixar, and more. These projects, while sure to attract a large audience, are also sure to cost a penny enough to bring to fruition.
Netflix will continue to release a wide variety of original products moving forward in 2021. This includes new seasons of smash hits like Strange things, Umbrella Academy, The Witch, and The Crown. It also introduces key new building-based products such as Resident evil, Biography of Narnia, DC’s Sandman, and Bebop Cowboy.
Mar Q2 2020, Netflix had nearly 193 million paid subscribers worldwide. At the same time, Disney + boasted more than 80 million as the investor call, far above forecasts for the first year. The gap between the two services is still significant, but it is thought that Disney + has the potential to overtake Netflix in the next few years.