Published on January 15th, 2019 | by Brad Gibson0
Netflix raising prices on all its subscription plans in US
Netflix raised prices for all of its subscription plans in the U.S. Tuesday by 13 percent to 18 percent, its biggest increase since the company launched its streaming service 12 years ago.
Netflix will increase the price of its most popular plan 18 percent to $13 per month from $11. That plan allows users to stream from two screens at the same time. The most basic plan, which allows a single stream in standard definition, will go up one dollar, or 13 percent, to $9 per month. A premium plan offering ultra-high definition will jump to $16 per month from $14.
This marks the fourth time that Netflix has raised its U.S. prices with the last hike in late 2017. This is the first time that higher prices will hit all 58 million American subscribers.
Previously, Netflix had continued to offer a basic, $8-a-month streaming plan while raising rates on more comprehensive plans with better video quality and options to watch simultaneously on different devices.
The new prices will immediately affect all new subscribers and then roll out to existing customers during the next three months. Customers in about 40 Latin America countries where Netflix bills in U.S. currency will also be affected, excepting key international markets such as Mexico and Brazil.
The company is now betting it can gradually raise its prices, bolstered by a string of acclaimed hits during that past five years that have included House of Cards, The Crown, Orange Is The New Black, and Stranger Things, and, most recently, the film Bird Box.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” the company said in a public statement.
Netflix had nearly 79 million subscribers outside the U.S. as of September.