Netflix, the famous movie and TV streaming service, has decided to raise their subscription prices once again!
The prices will be increased for the middle and top tier plans, starting in November. Subscribers who currently pay for the standard $9.99 service will be charged $10.99. The price of the premium tier will rise from $11.99 to $13.99.
The only silver lining is that the basic plan — which costs $7.99 — will remain the same, for now at least.
Netflix did not offer any justification as to why they chose to increase the prices. In an interview, the company stated:
From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.
Slight Relief For Current Subscribers
Although the price increase is imminent, the current subscribers do not have to comply with the price hike straight away. According to the company representatives, the current subscribers will continue to pay the old prices. They will be notified 30 days in advance once the new prices apply to them.
However, new users will have to pay for the inflated prices from the get go.
New Plan Details & Breakdown:
Talking about the subscriptions of Netflix, they now offer 3 different plans for their users:
- Streaming in small definition and one screen (TV, Phone or Laptop) at a time for $7.99
- Streaming in high definition and two devices at once for $9.99.
- Streaming in 4k and four devices at a time for $11.99
There has also been an increase of 16 percent in the 4K plan. It will cost $13.99 now. The most popular plan is the mid tier one, and now its going to cost 1 dollar more.
Although the increase in prices might reflect badly on Netflix but the streaming service has ramped up its efforts to increase the original content on its platform, which includes the recent addition of comedy specials from Jerry Seinfeld, Chris Rock and Ellen DeGeneres.