Time for another Netflix price hike!
About a year and a half after the last price increase, Netflix is bumping up the cost for most of its monthly plans in the US by one to two dollars.
Here’s how the changes break down:
- The “Premium” plan (4k and 4 simultaneous streams) will go from $15.99 a month to $17.99.
- The “Standard” plan (1080p and 2 simultaneous streams) will go from $12.99 a month to $13.99
- The “Basic” plan (SD and 1 stream at a time) will stay at $8.99
The price increase is effective immediately if you’re a new customer. If you’re an existing customer, meanwhile, expect the price shift to take place sometime within the next two months according to CNBC.
Netflix doesn’t outright say why they’re increasing the price now — but between a massive increase in usage/demand during lockdown, an ever-growing number of competitors battling for the same marquee exclusives, and the added cost and complexity of producing original content during a pandemic, it’s not hard to imagine where their costs might be going up.