Netflix has raised its subscription prices by 29% over the past 13 months. The increases have drawn criticism from consumer advocates who want Washington to intervene.
The streaming giant now charges $15.49 per month for its standard plan, up from $11.99 in early 2022. Basic and premium plans have also seen similar percentage hikes.
Critics argue that Netflix built its subscriber base with low introductory prices, then raised rates once customers became dependent on the service. They say this pattern harms consumers who face limited competition in the streaming market.
Some lawmakers have called for antitrust investigations into the company’s pricing behavior. They believe that Netflix’s market dominance allows it to raise prices without fear of losing significant numbers of subscribers.
Netflix remains a favorite on Wall Street despite the backlash. Analysts point to strong subscriber growth and high profit margins as reasons for continued investor confidence.
The company has defended its pricing strategy by citing increased content costs. Netflix says it invests heavily in original programming to maintain value for subscribers.
Government regulators have not yet announced any formal action against Netflix. However, the rising scrutiny reflects a broader push for more oversight of major streaming platforms.
