Netflix Announces Price Hike for Subscription Plans
October, 2015: $11.99
October, 2023: $22.99
This is what eight years can do. If you’re wondering what those figures are all about, they’re describing the change in cost for the Premium plan in Netflix’s subscription lineup.
The streaming giant has announced yet another price hike. Effective immediately, the changes are for new and existing Netflix customers. Thus, the psychological $20 barrier for the Premium plan is crossed: it’s going from $19.99/month up to $22.99/month.
The latest price hike applies also to the Basic plan – going from $9.99/month to $11.99/month. As you know, Netflix doesn’t offer the Basic plan to new subscribers anymore. The streamer closed the door to the Basic tier earlier this year, leaving existing subscribers to rejoice in the cheapest ad-free plan. Now, those on the Basic will have to pay an additional $2.
So, to summarize: Netflix prices in the US are now as follows and are effective for existing subscribers on their next billing cycle. Here it is:
- Standard with ads – $6.99/month
- Basic (available to existing subscribers only) – $11.99/month
- Standard – $15.49/month
- Premium (it offers 4K content) – $22.99/month
The price hike was announced during Netflix’s latest earnings call:
“While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more.”
The report also showed that the company’s global subscriber base reached 247 million at the end of September. Netflix posted revenue of $8.542 billion, in line with analyst forecasts.
The US isn’t alone in this. As Reuters notes, Netflix increased the Basic plan in Britain as well by £1 to £7.99/month. In France, Basic rose by €2 to €10.99.
