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Credit: NetflixNetflix is reportedly set to make major changes that will restrict viewership on hit television shows such as Stranger Things and Wednesday.
Despite recent changes to its subscription services– including price increases and password crackdowns— Netflix remains the strongest and most popular streaming platform in the world. The company boasts more than 247 million subscribers and the company’s stock continues to climb, recently soaring by 14 percent following the blockbuster deal with WWE that was announced earlier this week.
As Netflix continues to march ahead of the likes of Disney+, Amazon Prime, Max, and Peacock, the company is reportedly contemplating more changes that will keep many fans from viewing their favorite shows.
According to reports shared by Discussing Film, Netflix is hinting at another price increase. The company said that it was looking at improvements, and this could result in asking “members to pay a little extra.”
“As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements,” the company said in a statement.
Netflix has hinted at further price increases for subscribers.
“As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements.” pic.twitter.com/nqfiCvHh0U
— DiscussingFilm (@DiscussingFilm) January 23, 2024
In addition, reports from Variety indicate that Netflix will soon fully phase out its cheapest “No-Ads” tier.
“The move to fully phase out Netflix Basic comes after the company in 2023 stopped offering it to new subscribers in markets including the U.S., Canada and the U.K. Last fall, Netflix increased the price of the Basic plan from $9.99 to $11.99 per month in the U.S., and also hiked prices of the plan in the U.K. and France.”
Currently, Netflix has three different plans: Standard With Ads ($6.99 per month), Standard ($15.49 per month), and Premium ($22.99 per month).
Every time that a price increase is announced, some customers drop their subscriptions. Thus far, the number has not been significant enough to impact Netflix’s bottom line.
Though the streaming platform continues to boast major revenue, it will be interesting to see how another price increase when it inevitably comes affects subscribership. Many fans have kept their subscriptions because of many hit shows like Stranger Things, Wednesday, and Squid Game, but there are no new releases for these shows coming anytime soon.
Stranger Things has begun filming for its fifth and final season, but the expectation is that filming will not wrap until late this year and that this likely means we won’t see the final season released until late 2025.
Set in the 1980s in the fictional town of Hawkins, Indiana, and created by the Duffer Brothers, the drama series follows a group of young friends who become entangled in supernatural mysteries, government conspiracies, and a parallel dimension known as the Upside Down. The ensemble cast includes talented actors such as Millie Bobby Brown, who plays Eleven, Finn Wolfhard as Mike Wheeler, Gaten Matarazzo as Dustin Henderson, Caleb McLaughlin as Lucas Sinclair, and Noah Schnapp as Will Byers. The show also features Winona Ryder as Joyce Byers and David Harbour as Chief Jim Hopper, among others.
Wednesday is set to begin filming this spring in Ireland. Jenna Ortega and Tim Burton just wrapped filming on Beetlejuice 2, and now the duo will return to the iconic Netflix television series for a second season. Wednesday, just like Stranger Things, may not see its release until next year, but this hasn’t been confirmed.
What do you think about these new Netflix reports? Let Inside the Magic know in the comments!