Netflix has built a reputation for providing thousands of quality shows and movies for a cheap price. But new reports suggest the streaming service could bump up its subscription prices in the near future.
Reed Hastings, Netflix’s CEO, has announced that the company aims to gain more funding for original content by increasing subscription prices over the next 10 years.
“We want to take it very slow,” Hasting said. “Over the next decade I think we’ll be able to add more content and have more value, and then price that appropriately.
“We also want to motivate people to move up to the two-stream and the high-def and the ultra-high-def.”
A standard definition Netflix package costs £5.99 per month, but Netflix isn’t likely to increase this subscription fee over the next year.
Netflix password sharing
Netflix may also be more stringent on password sharing in the future, and this could move users towards setting up their own accounts instead of sharing them with others.
Hastings also revealed more details about Netflix’s aim to move into new and difficult markets over the next few months, including China and Japan. He hopes that Comcast will help provide free peering to Netflix.
Netflix recently reported that it currently has 65 million global subscribers, with 42 million in the US.