Netflix is raising its subscription prices for both new and longtime subscribers. Judging by past history, this change will be met by lots of backlash from users. On one level, that’s quite understandable. Most people live on a budget, and any change to said budget can conceivably be cause for concern. That said, it’s really not too surprising of a move for Netflix to make, as the streaming giant continues to accrue massive debts, mostly in service of producing more original content each year.
Netflix isn’t really in a position to cut costs when it comes to content creation either, as competitors like Hulu and Amazon are steadily pumping more and more money into their own original movies and shows as well. While Netflix is currently the biggest name in the subscription streaming ecosystem, that may not always be the case, and the company allowing itself to fall behind rivals when it comes to investing in content would present a perfect opportunity for said rivals to try and overtake the throne.
According to Variety, the price of Netflix’s most popular streaming plan – which allows for up to two simultaneous streams and access to 1080p HD content – is set to go up to $10.99 per month. That’s an increase of a single dollar from the current $9.99 monthly rate. In a change that will concern a much smaller number of Netflix’s subscribers, the price of the highest level plan – which allows for up to four simultaneous streams and access to 4K Ultra HD content – will be going up to $13.99 per month. That’s a two dollar increase from the current $11.99 monthly rate. The price of Netflix’s basic plan – SD only, one stream at a time – will remain $7.99.
Some subscribers are sure to point out the fact that it wasn’t too long ago that Netflix increased prices, and bristle against the announcement that the service is already increasing them again. Netflix most recently raised prices for new subscribers in late 2015, with the change being rolled out to existing subscribers in mid-2016. That increase saw the standard two streams, HD plan go up from $7.99 per month to its current $9.99 rate.
As for when subscribers can expect to see the new prices reflected on their monthly bill, Netflix plans to begin notifying existing members of the impending increase on October 19, and will send these notices out at least 30 days prior to each user’s next billing date. The full implementation of the new prices is expected to take several months. For new customers, the prices have changed as of today, October 5.
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