Netflix raises prices in the US amidst fierce competition

Just about every streaming service raised prices this year, so a price hike was bound to hit Netflix customers as well. Granted, the price increase only applies in the United States, for the time being, it’s probably safe to assume that everyone will have to pay more for Netflix come 2021.

So, starting today, Netflix announced new prices for US subscribers at just about every tier. The only plan that remains unchanged is the Basic tier that costs $9 per month and lets you stream at up to 480p resolution on a single device.

As far as the other plans go, Netflix confirmed that it will increase the standard plan to $14 from $13, while the premium tier will cost $18 ($2 increase) going forward. The price changes have already been implemented for new customers while existing subscribers should see the new prices over the next few weeks.

In case you’re wondering why the price increase, a Netflix spokesperson told The Verge that the company is updating prices all the time “so that we can continue to offer more variety of TV shows and films.” They went on to say that Netflix “offers a range of plans so that people can pick a price that works best for their budget.”

As competition in the US becomes fierce, Netflix needs more money to invest in bigger, better TV productions. And who’s going to pay for these productions if not the customers.

Source: Phonearena