Netflix is raising the prices of both the Standard two-stream HD plan, its most popular package, by about 8% — going from $12.99 per month to $13.99 and the Premium tier (with four streams and including 4K Ultra HD content) is going up by $2, from $15.99 monthly to $17.99 for U.S. customers. The price of the company’s Basic plan (with a single non-HD stream) will remain at $8.99 monthly.
New U.S. subscribers who sign up for Netflix’s Standard or Premium plans as of Oct. 29 will pay the higher rates immediately.
Current subscribers will see the new pricing over the next few months, according to a company rep. Members will be notified through email and also will receive a notification within the Netflix app 30 days ahead of their price increase. The timing will be based on the specific member’s billing cycle, according to Netflix.
Netflix last raised U.S. prices starting in the first quarter of 2019, when the Standard tier jumped 18%, from $10.99 to $12.99 per month. As the price hikes went into effect through Q2 and the back half of the year, Netflix’s cancellation rates rose but its revenue growth accelerated: The company’s full-year 2019 revenue climbed 28%, to $20.2 billion, outpacing the 20% net subscriber increase.
MacDailyNews Take: Dateline 2040: Netflix plans, which start at $99.99/month…