Netflix announces a price increase for its standard two-screen streaming plan in the US today. The last increase went into effect at the end of the 2017, with the standard plan rising from $9.99 to $10.99 per month. The company continues to be under speculation about growing debt due to its multi-billion original content investments.
However, Netflix only upped the ante by announcing their plans to double their slate of original content last fall, while acquiring a growing list of top-tier TV showrunners and directors, including Shonda Rhimes, Ryan Murphy and Marti Noxon to lead it.
Today, Netflix is central to popular culture to the point that it’s practically inescapable. Discussion of its currently trending hits, like Bird Box, Tidying Up With Marie Kondo, or Titans, across online reviews, memes, social media reactions, or old-fashioned coworker buzz is everywhere. But despite having created a commanding reputation for producing original content with the genesis of phenomena like House of Cards and Orange Is The New Black, the competitive playing field has been altered.
The Disney + streaming service is posed to offer hits from Disney, Marvel, LucasFilm, Fox, and ESPN at lower rates than Netflix, due to its focus on existing content. Meanwhile, Hulu’s subscriber base has proliferated, thanks to its procurement of major hits like The Handmaid’s Tale, Killing Eve, and Runaways. Netflix was even taunted by their competitor, when they released a documentary on the Fyre Festival disaster days before Netflix’s.
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