(NEXSTAR) – Netflix streaming service has reportedly increased its monthly subscription price in the US
The price will increase by around $1 or $2 per month, depending on the plan.
If you have the basic Netflix plan which only allows one stream at a time, your price will drop from $8.99 to $9.99, depending on the Company Website. The cost of Netflix’s standard plan, which allows two simultaneous streams, will now cost you $15.49, up from $13.99. Those on the premium plan, allowing viewing of four screens at the same time, will now pay $19.99, down from $17.99.
Netflix recently increased its subscription prices in October 2020. While the standard and premium plans have become more expensive, the basic plan has remained at $8.99 per month.
|Subscription formula||Old price (set in October 2020)||New price|
While the price increase took effect immediately for new customers, existing customers will see the price change in the coming weeks.
In a statement to Nexstar, a Netflix spokesperson said, “We understand that people have more entertainment choices than ever before and we are committed to providing an even better experience for our members. We are 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 choose a price that suits their budget.
Friday’s announcement comes after a week full of new lineup announcements. Among these are two new documentary series. We will follow men and women professional tennis players throughout the 2022 season while the other will follow the top PGA TOUR professional golfers.
Netflix experienced a boom in subscriber growth at the start of the COVID-19 pandemic, but it slowed until “Squid Game” hit the platform in September, Reuters reports. Netflix has approximately 213.6 million subscribers worldwide.
Editor’s note: This story has been updated to include a statement from Netflix.
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