Netflix subscribers are about to stream it and weep â at the streaming giant’s latest price hike.
The streamer announced on Wednesday that all three of its plans would be rising in price. As for a bit of Netflix price history, a Netflix subscription in 2011 was a mere $8 per month, a drastic drop from current prices, per Forbes.
2023 marked the streamer’s last price jump, as many current subscribers likely recall. In order to add an extra member to their plan, customers can still pay $6.99/month with ads, or $8.99/month without ads, for each new addition.
In a letter to shareholders from the streaming service in regards to the price jump, Netflix wrote, “As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix.”
Netflix certainly is not the only streamer to launch significant price hikes. YouTube TV customers were left furious when the monthly price was increased a whopping $10, making monthly costs skyrocket to $82.99/month.
Netflix prices going up coincides with significant subscriber recruitment. Nineteen million new subscribers joined the platform over the final quarter of the last year, per ABC News.
Curious how much it will cost to keep watching fan-favorites like Squid Game and Stranger Things? Here is what we know.
When does the Netflix price increase go into effect?
In the same letter to investors, Netflix stated that prices are set to go into effect immediately. They shared, “we are adjusting prices today across most plans in the US, Canada, Portugal and Argentina (which was already factored into the 2025 guidance we provided in October 2024).”
Co-CEO Greg Peters said during yesterday’s earnings call that the company is standing by its prices, per Variety. He shared, âWe believe that our starting price is an incredible entertainment value. And itâs a highly accessible entry point.â
New Netflix Price Tiers:
Per Netflix’s Plans and Pricing webpage, the ad-supported Standard plan will cost $17.99/month. As noted by @DiscussingFilm on X, this marks a $1/month increase.
The ad-free Standard plan will cost $17.99/month, which is $2.50/month more than its latest rate. As for the Premium plan, which is the highest tier of Netflix’s three plan options, it now costs $24.99/month, $2 more than its previous monthly cost of $22.99.
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