Netflix is upping the cost of a subscription to the popular content streaming site, Variety reports Thursday. Subscribers who now pay for the standard $9.99 service will be charged $10.99. Netflix made a point of saying that the rate would not impact current subscribers, they would continue to get the Basic plan for $7.99 a month. The full implementation of the new prices is expected to take several months. Keep in mind, the prices shown below don’t reflect the new price changes.
The price increases will start reflecting for existing subscribers from November. The premium service, which provides viewing on up to four screens (plus ultra HD content access), is $13.99, up from $11.99. Netflix will notify existing subscribers by October 19 when the price will go up and will give at least 30 days notice before the new bill will need to be paid. When the bulk of that process happened a year ago, media and public chatter rose to such a degree that Netflix blamed it for a missed quarter of subscriber growth. And considering you spend the same amount a month on Netflix as you would on single a meal for two at KFC, that’s a pretty good deal! But it raised the prices on its midrange and high-end tiers by $1 and $2, respectively. What do you guys think of this move?
It is the first price hike for the service in two years. The cost for its entry-level $7.99 service stays the same. In the second quarter of 2017, Netflix added 5.2 million new subscribers-1.07 million in the US and 4.14 million internationally-putting it way out in front of its estimated 3.2 million total subscriber adds.
Netflix hasn’t had a major change in its pricing scheme since 2014.