In the UK and Canada, Netflix has announced that users on their lowest-priced ad-free plan will have to either upgrade to a higher-cost plan or accept ads. This news comes after co-CEO Greg Peters revealed that the price hikes are intended to help pay for a wider range of content options.
In Canada, a user posted on Reddit that the Basic plan had been discontinued and offered new plans starting at $5.99 with upgraded features. In response, one user jokingly stated that they chose to save 100% on their new plan. The starting price for the new Standard plan with ads in Canada is $5.99, while the ad-free option costs $16.49, replacing the Basic plan which cost $9.99.
Although Netflix stopped offering the Basic plan to new and returning users last year, existing subscribers in the US are still able to remain on their plan until it is changed or canceled. Co-CEO Greg Peters mentioned that the price hikes are meant to help the company invest in a wider range of content options to provide more diverse and higher quality shows.
Netflix is not the only streaming service to raise prices, as ten of the top services have done so at least once in the past year. The latest hike from Max took effect on Thursday. It is worth mentioning that Mathias Döpfner, CEO of Business Insider’s parent company, Axel Springer, is a Netflix board member.
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