Netflix just raised the price of its Standard and Premium plans

Brenda Watkins
October 30, 2020

If it wasn't enough that Netflix continues to push the eject button on a number of beloved and by all accounts popular series on its platform, the service is now raising its monthly subscription costs in the U.S.

According to Netflix, which announced the news on Thursday, the standard plan is now $13.99 a month, jumping up a $1 from a year ago when it was $12.99 a month.

Netlfix last raised its prices back in 2019, when its basic plan went from $8 to $9, it's standard plan went from $11 to $13 and its premium plan went from $14 to $16. The premium plan allows up to four streams at the same time, in addition to access to ultra HD programs.

"The prices take effect today for any new members signing up", the company added.

According to CNN, Netflix's stock increased 5% following the news.

No stimulus checks, coronavirus relief bill before Election Day
"She is going to hold up key assistance - like the PPP assistance and unemployment assistance - and she is stringing us along".

In its story, the Hollywood Reporter includes quotes from a Netflix spokesperson, saying, "We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members". Meanwhile, the Premium plan is also getting a price hike to $18 a month, which is a $2 increase from its previous price. "Timing will be based on the specific member's billing cycle and will be rolled out over the course of the next two months".

In the past, Netflix price hikes have led to a slowdown in subscriber growth, particularly in the more-mature USA market. As always we offer a range of plans so that people can pick a price that works best for their budget.

Netflix expects to eclipse 200 million subscribers worldwide by the end of the next quarter.

Analysts had expected Netflix to raise prices to help fund more content and compete against a growing crop of rival streaming services.

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