Once again, Netflix is announcing another price increase for the Basic and Premium plans. However, it's only starting out in the US, the UK and France for now, according to its third-quarter financial report of 2023 here.
Compared with the previous plans, the Basic plan in the US will increase to $11.99 from $9.99 per month, whereas the latter will increase to $22.99 from $19.99 per month. There are no changes to the ad-supported and Standard plans. Also, the report also stated that new US subscribers can't get the Basic plan for some reason.
Again, it's a counter-intuitive action that can trigger a backlash from the internet community and Netflix users. But contrary to popular belief, Netflix's recent password-sharing crackdown actually brought more new subscribers (8.8 million, in fact) and earned a revenue of $8.54 billion. We foresee that there will be complaints here and there but subscribers may not jump ship.
It's tough to say if this new price hike would affect the Malaysian market. The most recent change was the aforementioned password-sharing which is RM13 per person and you can only add two in the Premium plan. The Netflix Basic plan price was the only one that changed too but from RM35 to RM28 per month. The Mobile, Standard and Premium's monthly fees remain untouched.
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