Netflix Announces Price Hike, See The New Rates Here
Netflix is now more expensive, as the streaming giant has raised its monthly subscription prices in the US, effective today. The standard plan is now $15.50/month (up from $14), while the 4K offering is going up to $20/month (from $18). The basic plan, is going up to $10/month from $9.
New subscribers will pay the increased rates immediately, while existing members will see their monthly rates go up «gradually,» according to The Verge, which has all the pricing details.
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 Reuters.
Netflix has 214 million subscribers globally and is the biggest player across the streaming landscape. It has 74 million subscribers in North America, which is the only worldwide region affected by the price hikes.
Netflix's stock price surged following the announcement of the price hikes.
In other news, it was recently reported that Netflix will film two Red Notice sequels back to back following the huge success of the first movie.
Check out the chart below, as shared on Netflix's website, to see a full breakdown of the new prices for the US and Canada.
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