Netflix Price Hike: Standard Plan Now $14, Premium Tier Increases to $18

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Netflix is hiking prices in the US, raising the standard plan by a dollar to $xiii.99 a month, and the premium tier by 2 dollars to $17.99 a month.

Netflix is increasing the cost to help information technology fund more Goggle box shows and movies on the streaming service as information technology faces increasing contest.

"We sympathize people have more amusement choices than always and we're committed to delivering an even better experience for our members," a company spokesperson said. "We're updating our prices so that nosotros can continue to offer more variety of Television receiver shows and films—in improver to our great fall lineup."

The new pricing.

(Credit: Netflix)

The good news is the bones plan remains the same at $8.99 a month. However, the programme only gives you access to ane concurrent stream, plus all videos are streamed in standard definition at 480p. For HD, you'll have to upgrade to the basic programme, and for 4K, you lot'll need the premium tier.

"The prices take event today for whatever new members signing up," the company added. "Electric current members will exist notified through email and will as well receive a notification within the app xxx days ahead of their toll increment. Timing will exist based on the specific member'due south billing cycle and will be rolled out over the course of the next 2 months."

Netflix's concluding price hike occurred in January 2022, which raised the monthly cost for all iii plans. Subsequently, the company reported losing some subscribers in the US. However, since then, the company'due south user growth globally has surged, thanks to the COVID-xix pandemic, which has been forcing more people to stay at abode.

The company now has 73 million paid subscribers in the United states of america and Canada, with Netflix's total subscriber count at 195 one thousand thousand.

During a tertiary quarter's earning call, Netflix explained the company's arroyo when deciding to heighten the prices for a certain market.

"We practice an cess," said Netflix Chief Product Officer Gregory Peters. "And we say do we believe that we're actually delivering more value to our members and, if then, do we remember it'south the right time to go back and ask them to pay a bit more so nosotros can once again go along that cycle going."