Bad news for Netflix users based in the US − the streaming giant has just announced price rises that affect all of three of its subscription tiers.
Netflix’s Basic plan has gone up to $9 per month (from $8), the Standard plan has gone up to $13 per month (from $11), with the Premium plan going up to $16 per month (from $14). Prices have increased by between 13% and 18%, making this Netflix’s biggest ever price hike, CNBC reports
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The price hike is effective immediately for new customers, while existing subscribers will be notified about the change, and will see their bills go up at some point over the next three months. Consumers based in some other South American countries will also be affected.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” Netflix said, the BBC reports.
Fortunately, Netflix’s UK prices (£5.99 per month for Basic, £7.99 per month for Standard, and £9.99 per month for Premium), have remained constant. However, the news will inevitably still put Netflix subscribers everywhere on edge.
Back in October, Netflix chief product officer Gregory Peters hinted at the possible introduction of more affordable packages.
“We’ll experiment with other pricing models not only for India, but around the world that allow us to sort of broaden access by providing a pricing tier that sits below our current lowest tier. And we’ll see how that does in terms of being able to accelerate our growth and get more access,” he said during the company’s Q3 2018 earnings call.
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In December, it emerged that Netflix was experimenting with a new pricing structure.
For instance, in Austria, some users could pay €2.49 for access to Netflix’s new and original shows. The Standard plan, meanwhile, was priced at €2.99 per week, while the Premium tier would set users back €3.99 per week.
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