For most, subscription services have become a primary source of entertainment during the pandemic. From Tiger King to the Queen's Gambit, there has never been a better time to own a subscription to the various providers available.
NEW YORK, NY / ACCESSWIRE / February 19, 2021 / Recently, one of the services just announced a new round of price increases for users in the United States. The standard plan for these services is set to increase the amounts in smaller increments over continuous months. As Jonathan Mael explains, this is an essential part of subscription services and their own long-term strategy.
Jonathan Mael states that the latest changes to the subscription services pricing show that it began in January 2019. Some companies have largely been able to avoid significant price increases as it has been consistently adding new customers. This clear growth strategy has kept investors and shareholders happy.
Jonathan Mael explains that most companies have has focused their efforts over the past five years on creating original content. For the financial year 2017, subscription services such as; Netflix earmarked slightly over $6 billion in creating original content for the platform. Challenging the traditional movie-making model, which shows films at openings, in the cinema, and on the award show cycle, Netflix had major success with original films like Irishman, Triple Frontier, and The Old Guard. Continuing this trend, Netflix just announced earlier this month that its 2021 film slate is so jam-packed that the service will be releasing a new Netflix original movie every single week this year. With over 52 films slated for release, featuring some of Hollywood's biggest stars, it leaves customers wondering if this is enough to warrant the ever-increasing price tag.
With dozens of streaming services popping up left and right, there are numerous sites facing increased competition. While companies like Netflix invest billions in creating original content, the emergence of Disney Plus, HBO Max, Hulu, and Amazon Prime means that Netflix is no longer the only option.
SOURCE: Jonathan Mael