Tuesday, January 15 By: Emily Morris
One hundred seventeen million people spend roughly 10 hours a week doing the same activity every week. That’s more sleep than some people get each night so what is this can’t-miss activity—none other than watching Netflix (Recorde & The Motley Fool).There are a few characteristics that set Netflix apart for other media services that could explain its dedicated mass following, but there will soon be some alterations.
Netflix says, “With Netflix, you can enjoy unlimited viewing of our content without having to watch a single commercial. There’s always something new to discover, and more TV shows and movies are added every month!”
In comparison, similar companies, such as Amazon Prime Video and Hulu, have only coaxed their audiences to devoting about 5 hours per week watching their shows, according to The Motley Fool. Despite its popularity, Netflix is not as much as a bargain as meets the eye; the most used plan is one that costs $10.99 per month. Amazon Prime Video ranks in at a minimal cost of $8.99 per month, which would accumulate to roughly $24 dollars saved every year. The extra funds saved would total to 3 extra months of Amazon Prime Video.Even so, most are staying loyal to Netflix thus far.
Upon entering 2019, Netflix is testing the waters again though with a 13 to 18 percent price raise on all of their viewing plans, according to The Oakland Press. Previously in 2011, Netflix did not fare well when raising their prices; Netflix did away with a media plan that bundled DVD rental and streaming. This slash left the company with about 600,000 less customers, and the newest alteration in cost is the largest increase in prices since Netflix’s original launch in 2007.
Naturally, consumers want to know where their dollars are being spent: “House of Cards,” ”Orange Is The New Black,” ”Stranger Things,” ”The Crown”, and “Birdbox”. Netflix original movies are budgeted to take up roughly 3 million dollars of 2019 funds (The Oakland Press). The dedication to producing original movies appears to be Netflix’s edge that could hold their customers, even past drastic price increases.
Taking up 10 hours of every week certainly puts watching Netflix as part of our routine. Hence, even if price increases are noticeable, some may be too dependent on the service. Time will tell if any change in Netflix price will cause their original movies and series to lose their luster.
Featured Image: NDTV