Netflix Price Increase – Second Time in Two Years
The streaming giant has just raised prices on two of its three subscription plans; their Standard plan, which allows simultaneous high-def streams on two screens, has increased from $9.99 to $10.99 a month, while pricing for the Premium plan, which provides access to high-def and 4K Ultra HD streams on up to four screens, has increased from $11.99 to $13.99 a month.
These new price increases are in effect now for all new subscribers, while existing customers will see these increases roll out over several months which started on October 19th.
The price of the Basic plan will remain unchanged at $7.99 a month. This plan provides standard definition streaming on one screen.
Netflix’s last price hike happened two years ago on its Standard plan which went from $7.99 to $9.99 per month.
Netflix claims these recent price increases are due to the production cost of its original TV shows and movie content, as well as new product features.