Netflix has raised prices for subscription services again in the US and Canada. All new subscribers will see the new prices starting today, and existing customers will receive an email notification 30 days before the increase goes into effect.
The increases were first reported by Reuters, which Netflix said: “We’re updating our pricing so we can continue to offer a variety of high-quality entertainment options.”
The new prices are as follows:
- Basic (single stream, 480p): $8.99 – $9.99
- Standard (two streams, 1080p): $13.99 – $15.49
- Premium (4 streams, 4K): $17.99 – $19.99
In Canada, new prices are $16.49 for Standard and $20.99 for Premium, with the base price unchanged at $9.99.
The most recent increase was in 2020 (the benchmark went from $13 to $14) and before that in 2019 (from $11 to $13). One would imagine that they only waited until January so that no one could say they raised the price three years in a row.
The pandemic has seen something of a historic increase in demand for TV and movies, and while Hollywood is still trying to sort out its strategy, Netflix has confidently doubled down on a winning formula and billed its customers.
While no one likes to lose another profit per month, the value proposition with the seemingly endless platform selection for growing international production is hard to deny. The hit single “Squid Game” is just one example of a show that might not have been made (in fact its creator has shopped in vain for years) without Netflix’s deep pockets.
Expect an email soon detailing the changes – you’ll have a chance to change or cancel, but who among us has the strength to do so? Just use the increase as an excuse to watch 10% more shows.