Netflix raises its subscription prices again
Hiking the costs of standard and premium plans.
Both new and current Netflix subscribers in the United States may have to pay a few dollars more each month to enjoy their favourite shows and films, as the streaming platform increases the cost of its plans.
Mashable reports Netflix will be raising the price of its standard and premium subscriptions. For new members, the updated prices are effective immediately. Current members will be officially notified of the rise from October 19 and additional costs will be affixed to their next pay cycle.
Although Netflix’s basic plan, priced at $7.99, remains set, the cost of the streaming company’s standard plan will rise $1 per month from $9.99 to $10.99. The standard subscription allows users to connect via two devices.
Netflix premium plans, which include ultra HD and four-device viewing, will rise $2 from $11.99 to $13.99.
From December, every Netflix subscriber in the United States will be paying the revised prices.
“From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster,” Netflix said in a statement.
The new products Netflix is referring to include original interactive titles, such as Buddy Thunderstruck: The Maybe Pile and Puss in Book: Trapped in an Epic Tale, and the ability to download content for offline viewing.
The last time Netflix raised subscription prices was October 2015.
In an interview with Variety in mid-August, Netflix chief content officer Ted Sarandos said he expects to spend around $7 billion on new content in 2018, up from more than $6 billion in the past year and $5 billion in 2016.
“The vast majority is still licensed content,” he said. “We’re still a couple years from seeing it go 50-50.”
Netflix has around 52 million US subscribers and more than 104 million worldwide across 190 countries.