Netflix announced it was raising the price of its subscription streaming service by $1 to $2 per month depending on the plan. The price increases impact customers in the U.S. and Canada.
“These prices apply to new members and will gradually take effect for all current members. Current members will receive an email notification 30 days before their price changes, unless they change their plan,” a Netflix statement explains.
The price of Netflix Basic, which provides unlimited access to the service’s movies and TV shows on one screen at a time, with downloads to one mobile device at a time, and in SD (standard definition) quality, is going up by $1 in the U.S., to $9.99 per month.
Netflix Standard, which provides access and downloads on two screens/devices and adds HD quality streaming, is going up by $1.50 to $15.49.
And Netflix Premium, which provides access and downloads on four screens/devices and adds Ultra HD (4K) streaming, is going up by $2 to $19.99.
This is the third price hike in as many years. But according to Netflix, it’s raising prices so it can continue to maintain its vast content advantage over rivals like Disney+, HBO Max, Hulu, Amazon Prime Video, and Apple TV+.