Netflix is raising its prices again
Netflix users looking to stream the next “Bird Box” or “Stranger Things” are going to have to open their wallets just a little wider.
The popular streaming service is raising its prices for its 58 million customers in the United States by 13% to 18% — the biggest leap in the company’s 12-year history.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” a Netflix spokesperson told the Daily News.
Netflix has offered a variety of plans since its inception; a basic plan that allows users to stream content on one device in standard definition, a standard plan that allows for two devices in high definition and a premium plan that allows for four devices in high definition and ultra high definition.
The basic plan will go from $8 a month to $9, the premium from $14 to $16 per month, and the standard – the most popular – from $11 to $13 per month.
The bump in the basic plan marks the first increase in price for that plan since its inception in 2010.
The standard plan went from $10 to $11 in 2017, and the premium jumped from $12 to $14. That came two years after Netflix raised the standard service by two dollars, which led to a drop in subscribers.
New subscribers will be charged the updated prices, while existing customers will see the rise roll out over the next few months.
Countries that are billed in U.S. dollars like Uruguay, Barbados and Belize will also see the hike in cost.
Netflix has spent a massive amount of money on original content in recent years; in October 2017, the company announced it planned to spend $8 billion on original TV and film over the next year, though a June projection from The Economist placed the number closer to $12-13 billion.
Its shows, including “Stranger Things” and “House of Cards,” and movies such as “To All the Boys I’ve Loved Before” and “Bird Box” have been popular hits, with several shows earning Emmy nominations and wins.
The increase in prices for subscribers still keeps Netflix on par with its competitors; HBO’s streaming service is $15 per month, Amazon’s Prime service is $13 per month or $120 per year, and Hulu offers an ad-free plan for $12 per month.