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Netflix has increased subscription prices in Singapore with immediate effect, Premium users hit hardest

By Aaron Yip - on 10 Mar 2024, 12:18pm

Netflix has increased subscription prices in Singapore with immediate effect, Premium users hit hardest

Note: This article was first published on 19 February 2024.

Netflix fans in Singapore will have to grapple with the reality of shelling out more (again) for their binge-watching habits. The price tag on Netflix's offerings here has crept upwards, a development that might just be the harbinger of similar adjustments in markets far and wide.

We first reported about a new price hike last October for the US market, and that has now spread to our sunny island.

So, what's the damage now? Here’s a quick summary:

  • Basic: from $12.98 to $13.98
  • Standard: from $17.48 to $19.98
  • Premium: from $21.98 to $25.98

As you can see, Premium subscribers get hit the hardest. These changes kick in with immediate effect from your next monthly billing.

This isn't an isolated incident. Netflix's pricing strategy seems to be undergoing a global makeover. Take Turkey, for instance, where subscribers have seen their fees bumped up twice in just a span of four months. And if Netflix's communications are anything to go by, this trend of 'strategic adjustments' isn't going to be a one-off.

Why the hike, you ask? Netflix posits that this uptick is crucial for the platform to keep pumping money into its content and tech enhancements. The streaming behemoth is keen on hammering home the point that to maintain, let alone elevate, the quality of its service, the cash register needs to keep ringing.

This begs the question: How are subscribers taking it? With the economic climate being what it is, the price jump has undoubtedly led some to weigh the merits of continuing their Netflix relationship. Yet, for a sizeable chunk of the subscriber base, the lure of Netflix's vast content arsenal and original productions makes the price pill a tad easier to swallow.

As for Netflix's market standing, the narrative remains largely positive. The latest earnings snapshot paints a picture of a platform that's not just holding its ground but flourishing, with a global subscriber count that's now north of 260 million and profits that keep the investors smiling.

So, while the price adjustments might pinch, Netflix seems to be banking on its content and service quality to keep its audience hooked. It's a bold strategy, and only time will tell how this gamble pays off. But for now, Singapore's Netflix subscribers will need to decide whether their streaming indulgence is worth the extra dollars.

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