Netflix is about to increase the cost of its monthly subscription fee, bringing it up to $8.99 from its current $7.99 a month. While a move like this was able to draw a tremendous amount of criticism, it is difficult to fully blame the fans on the matter. They understood what they were receiving when they signed up and an increase in price cannot do much in terms of brand loyalty. Even still, is it possible that a move like this is financially sound on Netflix's part?
Keep in mind that Netflix once stated that its monthly rate of $7.99 would be around for a long time to come. Of course, a "long time" is pretty subjective, since everyone has a different viewpoint as to what exactly this means. With that said, there are reasons to support this price elevation on the price of Netflix, even if there are fans who do not agree with it. Here are just 3 reasons why the price elevation in question might actually work well in the long term.
For one, this could mean an increase in the amount of content that is offered by Netflix in the months to come. Keep in mind that users signed up for Netflix because of the fact that its service is so broad, both in terms of television series and movies. Individuals want to be able to have a wide assortment of media to get in lost in and it is possible that this dollar increase can lead to such an instance. In order to make the increased price worth it, Netflix might have to convince naysayers.
Bob Jain may also look at this price increase and see it as an opportunity for competition to rise to the front. Apart from Hulu Plus and Amazon Instant Video, there is not much in the way of prominent competition. As a result, I believe that this is the opportune moment for companies to provide their services to customers and show that they can offer strong utilities at affordable prices. This is where healthy competition can be created, which is crucial in the eyes of various financial authorities like Jain.
around for the long term.- Finally, one of the reasons why it's important to support Netflix's price increase is because consumers are still attaining a good deal. Even at $8.99 a month, users have access to a tremendous amount of original content as well, one of the more popular names being "Orange is the New Black," which is approaching its second season as of this writing. If people want to watch the show, they have to watch through Netflix. The exclusive properties come together as a strong reasons why this price hike should be supported.
Keep in mind that Netflix once stated that its monthly rate of $7.99 would be around for a long time to come. Of course, a "long time" is pretty subjective, since everyone has a different viewpoint as to what exactly this means. With that said, there are reasons to support this price elevation on the price of Netflix, even if there are fans who do not agree with it. Here are just 3 reasons why the price elevation in question might actually work well in the long term.
For one, this could mean an increase in the amount of content that is offered by Netflix in the months to come. Keep in mind that users signed up for Netflix because of the fact that its service is so broad, both in terms of television series and movies. Individuals want to be able to have a wide assortment of media to get in lost in and it is possible that this dollar increase can lead to such an instance. In order to make the increased price worth it, Netflix might have to convince naysayers.
Bob Jain may also look at this price increase and see it as an opportunity for competition to rise to the front. Apart from Hulu Plus and Amazon Instant Video, there is not much in the way of prominent competition. As a result, I believe that this is the opportune moment for companies to provide their services to customers and show that they can offer strong utilities at affordable prices. This is where healthy competition can be created, which is crucial in the eyes of various financial authorities like Jain.
around for the long term.- Finally, one of the reasons why it's important to support Netflix's price increase is because consumers are still attaining a good deal. Even at $8.99 a month, users have access to a tremendous amount of original content as well, one of the more popular names being "Orange is the New Black," which is approaching its second season as of this writing. If people want to watch the show, they have to watch through Netflix. The exclusive properties come together as a strong reasons why this price hike should be supported.
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