Netflix has been making numerous changes to its streaming service. In addition to increasing prices, adding ad-supported tiers, and cracking down on password sharing, it looks like another set of price increases are on the way for Netflix users.
These price increases for Netflix were reported by THR. Additionally, the increases are expected to impact subscribers in the United States, United Kingdom, and France. The increases are expected to roll out as soon as Wednesday.
Here’s what was shared by the publication for the increases in the United States:
“In the U.S., the prices for the basic plan — the lowest tier plan without advertising, which is no longer available to new members — will increase from $9.99 to $11.99, while the premium plan, which allows users to watch in Ultra HD on supported devices and download on six supported devices at a time, will increase from $19.99 to $22.99. The plan with ads, at $6.99, and standard plan, at $15.49, will remain the same price.”
As for the United Kingdom and France, it’s been stated that the prices for “ad and standard plans remain unchanged,” though “the basic plan is jumping to 7.99 pounds and 10.99 euros, respectively, and standard is increasing to 17.99 pounds and 19.99 euros, respectively.”
The Stranger Things distributor shared the following statement about the decision in their third-quarter shareholder letter:
“While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” the company shared.
Netflix co-CEO Greg Peters added how he hopes the platform will continue to grow and maintain its audience:
“We have many hundreds of millions of qualified households out there. They’re smart TV households that we want to win over over the next several years, and those borrowers, we’re not going to convert in the next couple of quarters, represent that same group. So we’re going to go after them the same way we’re going after people who have never signed up for Netflix, which is having incredible content, offering an incredible value, and getting them so excited that they just have to sign up,” he said.
Of course, while numbers are looking good so far, streaming has been a rather unpredictable landscape in recent years. Especially with Netflix now having numerous competitors including Max. As always, we’ll just have to see how they fare together, and what kinds of changes and price increases we can continue to expect.
Stay tuned to ScreenGeek for any additional updates regarding Netflix and the other streaming services as we have them.