Every once in a while, in order to continue funding massive amounts of new and original content, the streaming giant known as Netflix raises its prices for subscribers. Sadly, that time has come once again. Beginning on Thursday, Netflix has raised the prices of two of its three subscription tiers in the United States, affecting the majority of its customers in the country. The basic plan will remain the same, but the standard and premium plans are set to rise.
The standard plan, which is the most common Netflix subscription to customers in the United States, is getting raised by $1. Previously $12.99 per month, the price is now $13.99 per month. The premium plan, which allows 4K video and up to four device streams at once, is going up by $2, from $15.99 to $17.99. The basic plan will remain unchanged at $8.99.
For new customers preparing to sign up for Netflix, the new prices will be immediately introduced. Existing customers will see the increase on their next billing cycle, sometime over the next month.
Many have suspected that new price hikes were coming to Netflix sometime in the near future, considering the fact that it's been nearly two years since the last increase. A similar price increase was introduced to US customers back in January 2019.
Customers in Canada began seeing the same price increases earlier this month, but Netflix hasn't announced plans to alter the pricing of any other international markets at this time. This new change "does not influence or indicate a global price change," a spokesperson told The Verge.
This price hike is the first since then recent boom of streaming services that has seen the launch of Disney+, HBO Max, and Peacock. Netflix's standard plan remains cheaper than HBO Max, but it's still substantially more expensive than Disney+ or Peacock. That said, Netflix rolls out more original content than all of its major competitors.
Are you disappointed to see Netflix raising its prices once again? Let us know in the comments!