*With prices for everything else going up, why not Netflix? Well, funny we ask that cause guess what? #Netflix plans to increase subscription prices by $1-$2 a month.
The popular streaming service is raising its rates to help pay for programming costs, the company said.
According to the Los Gatos, Calif.-based company’s website, the monthly cost for the basic plan increased to $9.99 from $8.99, while the standard plan is now $15.49 from $13.99 and the premium plan rose to $19.99 from $17.99
Netflix subscribers will receive an email notification 30 days before their prices change.
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The company also increased prices in Canada. The Standard package increased by $1.50 (CAD), rising to $16.49 (CAD), and the Premium plan increased by $2 (CAD) to $20.99 (CAD)/month. The Basic plan remained unchanged at $9.99 (CAD)/month.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix rep said in a statement, per Variety. “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget.”
In the fall of 2021, Netflix added 4.4 million subscribers, bringing its global subscriber number to 213.5 million. Netflix also gained 70,000 streaming subscribers in the U.S. and Canada. It gained about 940,000 in UCAN to stand at 74.0 million compared with a net add of 18.1 million worldwide. Netflix’s stock rose roughly 2% following the news on Friday.
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