Streaming service Netflix have already cut their cheapest ad-free plan in Canada, and now they’re following up by doing the same in the UK and the US too. The £6.99/$9.99 basic monthly subscription is no longer available for new/rejoining members.
The streaming service recently made a statement that read, “In Q1, we lowered prices in a number of less penetrated markets, and in Q2, we phased out our Basic ads-free plan for new and rejoining members in Canada (existing members on the Basic ads-free plan are unaffected).”
The statement continued, “We’re now doing the same in the US and the UK. We believe our entry prices in these countries – $6.99 in the US, £4.99 in the UK and $5.99 in Canada – provide great value to consumers given the breadth and quality of our catalogue.”
So if users are already subscribed to the basic plan, there is no need to worry. The subscription will stay active so long as users don’t change or cancel it. However, the option to move to a lower-priced plan is no longer possible.
There’s now only the possibility to sign up for a £4.99/$6.99 monthly ad-supported tier, a £10.99/$15.49 monthly standard plan or a £15.99/$19.99 monthly premium subscription.
Netflix co-CEO Greg Peters recently suggested that the company wanted to “optimise” the kind of plans they offer to customers. “we want to give consumers access across a wide range [of prices],” he said in an earnings call on Wednesday (July 19th 2023)
“We think the entry prices that we have right now represent an amazing entertainment value and are attracting a healthy share of signups,” Peters added.
