Netflix is raising its prices on streaming video subscriptions as it gets more expensive to produce original content. This year, Netflix will spend $6 billion and even more in 2018.
That’s $1.5 billion more than its competitor Amazon Prime Video and more than 2 times as much as HBO and Hulu spend (though Hulu only operates the U.S., so its costs should be lower).
Streaming services are competing not only with each other but also with traditional cable channels for customers. Judging by streaming services’ showing at this year’s Emmy’s, the spending is paying off.
Source: RANI MOLLA