The popular Netflix movie and series site is once again raising the cost of a monthly subscription in the United States. Maybe in Europe soon.
Here’s the bad news for all you Netflix fans. The movie and video streaming service raises prices in the USA and Canada, and most likely the old continent will not “be left behind”. Early Friday, Netflix quietly changed prices for all three subscription packages:
- So the base level goes up by $1 per month from $8.99 to $9.99
- The $1.50 benchmark increased from $13.99 to $15.49
- Premium increased by $2 from $17.99 to $19.99
According to the published price list, new prices for new subscribers are effective immediately. On the other hand, they will gradually increase the prices for existing subscribers, that is, not all of them at once. They will be notified by e-mail regarding the price increase.
“Existing members will receive an email notification 30 days prior to a price change, unless they change their package,” they said in a press release.
Netflix last raised prices in the US in October 2020. Prior to that, the company raised fees in January 2019. The price increase becomes especially evident on the annual account. The premium package now costs $239.88 per year, while the standard package costs $185.88 for 12 months.
In the past, the company has said price increases are necessary to fund the original TV shows and movies that the streaming service is constantly adding to its platform.
Netflix is also facing increased competition from other streaming providers, including HBO Max, Disney+, and Amazon Video. In the third quarter of last year, Netflix reported 213 million paying subscribers worldwide. However, user growth in the US and Canada has stagnated at around 73-74 million in recent quarters.