Netflix subscribers in Italy could soon receive a surprise check from the video streamer
With the court ruling against Netflix, Italian subscribers to the premium version of the video streaming platform could receive a check written for an amount as high as €500 ($576 USD). Those who were subscribed to the standard plan could receive a check worth as much as €250 ($288 USD). But wait. There’s more good news for Italian Netflix subscribers. The Italian court also ordered Netflix to roll back their prices to the level they were at before the latest round of price hikes.
The monthly price for premium service will drop back to €11.99 ($13.81 USD) instead of the proposed new rate of €19.99 ($23.03 USD). The monthly price paid each month for the standard Netflix service will be returned to €9.99 ($11.51 USD) instead of the proposed hike to €13.99 ($16.12 USD).
U.S. Netflix subscribers have recently had to deal with a price hike
The court has given Netflix 90 days to notify its current and former Italian members about the price rollback and the refunded amounts they will receive. This can be done by snail mail, email, national newspapers in the country, and the Netflix website in Italy. Failure to do this will result in Netflix paying €700 ($806.44 USD) per day. The Movimento Consumatori consumer watchdog said that if Netflix does not comply immediately, it will file a class action lawsuit.
Netflix says that it has always followed local law and is appealing the court decision. For those in the U.S., Netflix has added $1 per month to the standard service with ads from $7.99 per month to $8.99. The standard plan ad-free is now $19.99 per month, up from $17.99. And premium (4K UHD) service has been raised to $26.99 per month from $24.99. An extra member with ads is $7.99 per month and $9.99 per month without ads. Analysts believe that the streamer’s huge content budget of $20 billion for 2026 is the reason behind the price hike.
Remember watching Netflix using slower 3G networks?
Today’s 5G speeds make watching content via Netflix seamless. Back when the app debuted, 3G speeds occasionally led to buffering, slow loading, and pixelated visuals. By June 2020, four Android phones supported HD on Netflix: Asus ROG Phone II, the Asus ZenFone 6 (2019), the TCL 10L and the TCL 10 Pro.
The company made news late last year when it offered approximately $83 billion to buy Warner Bros. Discovery (WBD). Netflix was seeking to pick up iconic franchises like Harry Potter, DC Comics, and Game of Thrones. However, Paramount Skydance topped Netflix with an all-cash bid of $111 billion for WBD. Paramount’s bid was for the entire company, which includes CNN, TNT, and Discovery.
Netflix didn’t walk away totally empty-handed. Paramount agreed to pay the video streamer the $2.8 billion termination fee it was due from WBD for terminating the agreement it had with Netflix.
