- Netflix is increasing prices for its subscribers in the US to $14 a month for the standard plan and $18 for the premium plan.
- There is also an increase in the basic plan which earlier costs $9.
- Netflix stopped its free trials across all markets, earlier this month.
Netflix is raising prices across all of its plans in the US today. The company’s standard plan will rise to $15.50 per month from $14, while the 4K plan will rise to $20 per month from $18. The basic plan, which doesn’t include HD, is also rising to $10 per month from $9. Prices are rising in Canada as well. However, there is nothing to worry about for Indian users, as these new prices are not applicable to Indian users.
The price increase will take effect immediately for new customers. Existing members will see the price change over the coming weeks. Members will be notified by email and through the app 30 days before the price changes take effect on their account, said Netflix. Price hikes are normal for Netflix, with increases coming about every two years.
“We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget,” a spokesperson told.
Netflix’s stock price surged following the announcement of the price hikes. Netflix isn’t the only service that’s been raising prices lately. Hulu hiked the price of its ad-supported and ad-free tiers by $1 per month. Netflix last raised prices in 2020, as millions of users flocked to streaming services while remaining confined to their homes due to the COVID-19 pandemic.
“Prices are being updated so that we can continue to offer more variety of TV shows and films. As always we offer a range of plans so that people can pick a price that works best for their budget,” a Netflix spokesperson said. According to the report, Netflix has increased its annual content budget every single year over the last seven years.
In India, Netflix is giving monthly subscriptions starting at Rs 199 for the mobile plan, while the basic plan comes for Rs 499, the standard plan for Rs 649, and the premium plan for Rs 799. Netflix also introduced a mobile+ plan for Rs 349.
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