Popular video streaming service Netflix dropped a bomb on Tuesday with the announcement of the largest price hike in its history. The video-streaming giant is increasing its subscription prices by between 13 to 18 percent in the US.
But it looks like South Africa will be spared.
"Price increases are specific to each country and the US increase does not influence or indicate a price change in South Africa," says Artanç Savas with the corporate communications team for Turkey, Israel and SA at Netflix.
The price increase was a long time coming as the company continues to pour billions of dollars into creating high-quality content, and expands into markets like South Africa, where it has commissioned its first original African series.
Netflix's basic plan fee in the US will rise to $8.99 (about R123.50 at current exchange rates) from $7.99 (around R110). The video streaming service's standard plan that allows users to simultaneously stream on two devices, will increase from about $10.99 (R150) to $12.99 (R180).
The streaming service's premium package, which allows streaming on four screens in HD is going to cost Americans an estimated R220 from about R192 currently.
Meanwhile local subscription fees for Netflix plans will remain unchanged, including its basic and ultra-competitive R99 per month plan.
Receive a single WhatsApp every morning with all our latest news: click here.
Also from Business Insider South Africa: