Price hike unlikely to chase Netflix customers away, expert says

If you’re one of the 58 million Americans with a Netflix account, get ready to pay more each month.

The subscription video service announced Tuesday it was raising prices for most subscribers by about $2 per month.

Experts say that increase is unlikely to chase subscribers away.

In an article on Yahoo! Finance, Technology Editor Daniel Howley said that while a couple dollars probably won’t cause customers to cancel their subscription, raising prices to $20 a month could be a breaking point for the service.

In a 2018 survey of 1,100 Netflix subscribers, most users said they were willing to pay more for the service, Yahoo! reported. Some said they were fine with paying significantly more for the service.

Howley said the advantage Netflix has right now is quality. Straight-to-Netflix movies like “Roma” and “Bird Box,” along with critically-acclaimed shows like “The Kominsky Method” and “Grace and Frankie,” could be the keys to keeping Netflix ahead of competition like Hulu and Amazon.

Netflix claimed more than 45 million accounts watched “Bird Box” over the holidays. The Sandra Bullock-led film was the “best first 7 days ever for a Netflix film,” the company said in a Tweet.

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