Netflix would increase its prices after the actors’ strike ends
The actors’ strike remains active even though the screenwriters’ strike has already ended. The consequences are visible, but there are several others that could come very soon. The Wall Street Journal reports that Netflix may decide to increase the price of its service once the protests are over. It appears that the platform’s consumers will be the ones hit hardest by the situation.
According to the news outlet mentioned above, Netflix would increase the cost of all the ad-free plans it offers, i.e. Basic, Standard and Premium. It’s worth noting that nothing has been said yet about the prices to expect in the future, but it’s clear that the studio is eager to return to producing content; Your increase plan would act as a buffer to avoid all kinds of economic losses and leave the responsibility to the customer.
In Latin America, we have seen numerous price increases for Netflix. One of the most significant increases occurred in 2021, without forgetting that in 2023 additional costs for sharing accounts outside the home came into force. However, the measures do not satisfy many customers, but Netflix’s power is so great and the presence of its films and series so irrevocable that people stay connected so as not to lose track of what is at the center.
Ted Sarandos, CEO of Netflix (Source: Variety)
The red giant
The success of Netflix’s commercial strategy is based on its ability to revolutionize the way we consume audiovisual content. Since its founding as a DVD-by-mail rental service, Netflix has been able to adapt to technology and consumer trends by introducing on-demand video streaming. This innovation allowed subscribers to access a wide range of films and series anytime, anywhere, eliminating the need for traditional television programming and advertising.
Continue reading the story
Additionally, Netflix invested significantly in producing original content to differentiate itself and attract a global audience with exclusive, high-quality series and films. Its focus on personalization through algorithms that recommend relevant content to each user has also been instrumental in retaining and satisfying subscribers, contributing to its continued success in the competitive entertainment market.
Another key element of Netflix’s business strategy was its focus on international expansion. The company has invested in localizing content and adapting to different cultures and regions to enable rapid global growth and overcome geographic barriers faced by other media companies.
Additionally, Netflix has maintained a reasonable pricing strategy compared to the cost of cable television and other entertainment services, making it affordable to a wide range of consumers. Netflix’s ability to innovate the way we consume content, its investment in original content, its focus on personalization and global expansion have led to Netflix’s continued growth and leadership in the video streaming industry.
Streaming services have become a necessity in modern life for several fundamental reasons. First, they offer unmatched convenience by allowing consumers to access a wide range of content, including movies, series, music and more, anytime, anywhere via mobile devices, computers and televisions. This corresponds to the modern lifestyle where mobility and flexibility are essential. Additionally, unlike traditional television programming, streaming services offer a wide variety of options that allow users to customize their entertainment experience to suit their preferences.
Another big advantage was the ability to avoid intrusive advertising. Additionally, the increase in high-quality original content produced by services such as Netflix, Amazon Prime Video and Disney+ has led to many people finding content on these services that is not available anywhere else. In addition to providing convenience and choice, streaming has redefined the way we consume entertainment and has become a necessity to meet our demands for instant access to a wide range of high-quality content, personalization and ad-freedom.