Study: Netflix’s $2 price increase could cost it almost 500,000 subscribers

Study: Netflix’s $2 price increase could cost it almost 500,000 subscribers

In news not pertaining to Netflix’s new icon: according to a study by Nomura Securities, Netflix’s $2 price increase earlier this year could lead to almost a half million US customers (480,000) abandoning the service.

With cable increasingly breaching the $100+ per month mark (and rising), the idea that an increase from $7.99 to $9.99 (or $8.99 to $9.99 for some customers) could send customers packing is ludicrous. Netflix not only has one of the largest streaming catalogs online but, with House of Cards, Orange is the New Black, Narcos, Jessica Jones, Daredevil and others, it’s also creating some of the best content on the airwaves.

Even with Hulu Plus, Amazon Prime Video, HBO Go and others, customers are still spending less than half of what they once spent on — let’s be honest — mostly shitty cable programming.

Netflix represents one of the best bargains in entertainment and I honestly can’t wrap my head around how it stands to lose nearly 500,000 people over what accounts to half a Starbucks latte.

Please, someone explain this to me.

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