Netflix is gearing up to increase prices on their standard and premium plans. But the price increases will help Netflix continue to expand its services and improve the quality of streams for future use by consumers, as well as fund ongoing and new Netflix-exclusive projects.
The price change will roll out over the next several months.
Netflix will begin sending 30-day notices of the price hikes on October 19.
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Current subscribers (who have been spared from some rate increases in the past) will be affected this time. The premium service, which provides viewing on up to four screens (plus ultra HD content access), is $13.99, up from $11.99. The standard package that allows for simultaneous streaming on two screens is now $10.99 per month. Netflix will begin raising prices in November and by December it plans to have all users on its new pricing tiers.
Netflix intends to increase the rates of its subscription plan. Upcoming original content available globally includes Suburra (IT, 6 Oct), Stranger Things (27 Oct), Dark (DE, 1 Dec), The Crown (2 Dec), Bright (Dec). What do you guys think of this move?
It's the first time the company has raised prices in two years. Then again, $7 billion in content isn't going to pay for itself.
Since then, however, Netflix has continued to add large amounts of new subscribers both in the USA and internationally. The basic package will not see a price change, as it has remained the same since Netflix's launch in 2010. As of the end of June, the company had about 52 million USA streaming members.