SAN FRANSISCO, California –
Netflix, which has long since become most people’s go-to source for home entertainment, says that they will be launching a price increase this summer, battling rival companies such as Hulu and Amazon, as well as cable providers for rich, new content.
“The problem that we’re facing is that we’re sinking hundreds of millions of dollars into buying some of these movies and TV series, and we’re just not bringing in new subscribers fast enough,” said Reed Hastings, CEO of Netflix. “When you spend millions of dollars to bring shit like Friends to Netflix, you hope that someone wants to watch it – then you remember it’s one of the worst shows to have ever been on television, and you realize that people aren’t rushing out in droves to spend money on nostalgia.”
The nostalgia comment has proven to be especially true lately, as ratings on Netflix for their shows bringing back 90s sitcoms, such as Fuller House have proven to be abysmal.
“We really wanted Fuller House to be the reason that people signed up for Netflix again, or came to us for the first time,” said Hastings. “We didn’t realize that, in the end, people just don’t care about Bob Saget. Thank God we still have House of Cards to fall back on.”
Hastings says that the company plans to have several tiers for streaming, much like now, but that the prices will fall “somewhere closer to $30” per account.