If you are a subscriber of Netflix and want to save money by paying yearly, you must be looking. But can you pay Netflix yearly? In this guide, you will know how many subscriptions plans Netflix offers, which plan is less expensive, and many more about the updated subscription plans.
In most cases, yearly plans are not expensive, which is why people go to search for yearly plans. So in this guide, we will explain whether you can pay yearly or not.
What Is Netflix?
There are many streaming platforms, but Netflix is one of the best services because of its content and subscription plans quality. Netflix is a subscription-based online streaming platform that has a lot of original content that the member can watch at any time without commercials. The content includes TV shows, songs, movies, and web series.
But in this guide, our main concern is about the yearly subscription plans. So here, we will discuss in detail the subscription plans that Netflix offers. So if you want to save a little money, you first need to know about subscription plans.
Can You Pay Netflix Yearly?
No, you cannot pay yearly because Netflix offers a monthly plan that a subscriber can subscribe for. This monthly plan is a money-saving way for customers, which will proven later in this guide. One of its campaigns is testing a yearly plan that offers a 50% discount to its users’ subscriptions in India. In addition, the user gets a 30% discount on a six-month plan and a 20% discount on a three-month plan subscription.
Subscription Plan that Netflix Offers
Netflix usually offers three subscription plans that we have described below. The common feature to all the subscription plans is that the user gets access to the Netflix library of original and classic content.
This plan costs $9.99 per month. A $1 has increase in 2022. In this plan, the subscriber is allowed to watch Netflix on one screen at one time and can connect one phone or a tablet to download the content available on Netflix. The basic plan does not provide HD streams.
The standard plan costs $15.49, and $1.50 have increased compared to the previous costs. This provides the HD streams feature, and the user can connect to more than one device to download the content. Also, the user can watch Netflix on more than one screen.
The premium plan of Netflix is expensive compared to the basic plan and standard plan. It costs $19.99 for a month and provides all the premium features to the subscriber. This subscription allows the user to watch Netflix on four devices and four screens. In addition, the premium subscription plan allows HD and Ultra HD streams.
Costs of Plans in Yearly Payment Plan
But what will be the cost of each subscription plan when Netflix allows the yearly payment plan.
We know tha the basic plan is around $8-9, and in the yearly plan, the user will spend $4 per month. That is affordable and less expensive. The user will only need to pay around $50 for the entire year. But when Netflix releases the yearly plan is unknown.
Why Does Netflix not Support Yearly Subscription Plan?
The yearly plan is under testing by the latest Indian campaign of Netflix. But this plan is not available for public use. There are some reasons why Netflix doesn’t support yearly subscription plans.
Architectural Structure of Business
Netflix was the first platform that strat was charging the user for subscription, and it made its architectural structure for the working of subscription. Netflix has made the complete structure for business purposes.
If Netflix goes for a yearly plan subscription, there will be the need to change all the architectural structures. These changes will include the change in software, billing methods, change in policies, and almost changing the complete business structure.
The change from a monthly subscription to a yearly subscription will require a lot of time and money to alter the whole business strategy from a monthly subscription to an annual subscription.
High Chances of Subscription Cancellation
The other reason for not releasing the yearly plan is that the cancellation of annual goals will be high because some users will not find it worth spending for the whole year at once.
Some people don’t use Netflix regularly. They only open Netflix once or twice a week or, specifically, on the weekend. So, in this case, the yearly subscription will not benefit these types of users. The users will go for the cancellation of the plan because they will find it expensive compared to Netflix hours. If a person doesn’t watch Netflix for a whole month after subscription, wasting $8 or $15 is better than wasting $100 on an annual subscription plan.
More and more streaming platforms are entering the market over time. That’s why competition is tough, and Netflix is more concerned about the user canceling the subscription. As we know, the yearly plan will increase the chances of canceling the subscription, so Netflix is not in favor of changing the subscription plans from monthly to annual payments.
The benefit of Monthly Subscription Plan
The advantage of a monthly plan over a yearly one is that the user becomes habitual to the charges he must pay every month. In addition, the user can organize the budget for the payment in a monthly subscription plan because they will exclude that amount every month from their income.
But it is not in the yearly plan because most people don’t save every month charges to pay. They have to pay $100 or more at one time. The annual plan breaks the subscriber’s habit of paying for the subscription.
Not Easily Skippable
The last but not the slightest reason for not releasing the yearly plan is that the monthly plan is easy to skip. When the user feels he will not use Netflix for the next month for any reason or he doesn’t need Netflix anymore, he can easily cancel the subscription in a few steps.
The excellent point is that the user can renew the plan when he feels stable to pay the monthly fee. This flexibility is not available in the yearly plan. The user will have to pay the whole annual charges in every situation, whether he finds it affordable or not.
- The yearly plan is less expensive for users who use Netflix every day for several hours.
- Yearly plans provide a discount to the user.
- The yearly plan will not be beneficial for users who use Netflix one or two times a week.
- The user has to pay for that month also in which the user didn’t watch Netflix.
In short, a yearly plan is not beneficial both for the company and the users and is not economical for most of the subscribers. In this guide, you get to know can you pay Netflix yearly? Why doesn’t Netflix support an annual plan? And if Netflix will support the yearly plan, what changes will be required to change the subscription plan from monthly to annual. After reading this guide, you will also know the pros and cons of the annual plan subscription.