Netflix is bumping up the cost for most of its monthly plans in the US, for existing and new customers.
It’s become a seasonal must: less than 18 months after its last price increase, it’s already time for a new Netflix price hike.
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Netflix does not provide an explanation for its price hike. However, it is easy to guess that with an ever-growing number of competitors (minus Quibi now) fighting for our attention and need for entertainment, and the added cost of producing original content during the COVID-19 pandemic, their operating costs have likely gone up.
For the consumer, like you, it will mean an increase of $1-$2 on most plans. The “Premium” plan (4k and 4 simultaneous streams) will increase from $15.99 a month to $17.99, while the “Standard” plan (1080p and 2 simultaneous streams) will increase from $12.99 a month to $13.99. Only the “Basic” plan will stay the same at $8.99 per month:
The price hike is effective immediately if for all new customers. If you’re an existing customer, meanwhile, expect the price increase to take place sometime within the next two months according to CNBC.