*Netflix users, get ready for price increase, as the streaming giant is raising monthly plans for all of its U.S. subscribers – again.
According to Deadline, it’s most popular plan will go from $11 to $13 per month. The increases will take effect immediately for new subscribers and will be phased in over three months for existing subscribers.
The company says the price increase will help pay for debt and original shows.
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Here’s how the new plans breakdown:
The Netflix Basic plan will now cost $9, up from $8. The most popular option, HD Standard, will now cost $13, up from $11, while the 4K Premium plan will cost $16, up from $14. Customers in about 40 Latin America countries where will also be affected, per Deadline.
“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 statement to the Associated Press.
According to its last quarterly report, Netflix had 137 million subscribers worldwide, including 58 million in the U.S.
One Twitter user reacted to the price hike by writing: “Everyone bitching over $2 luke…why? Do you expect to keep paying nothing for awesome original add-free content? Thats not really how the world works…. might wanna climb off that entitled high horse…”
While another commenter noted: “I’ll continue paying $15/mo for the amazing content HBO puts out, but no, I am not paying $13/mo for 13 Reasons Why, House of Cards, or whatever other crap Netflix is putting out. And they will probably hike the price again in a few more years.”
This marks the fourth time the company has raised its U.S. prices. The last increase came in late 2017.
There are some concerns that higher prices could trigger a wave of cancellations.
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