Tech

Netflix drastically raises prices for US subscribers

Big picture: Netflix is ​​raising subscription prices for its streaming service in the US for the second time during the pandemic. With more entertainment choices than ever before, Netflix will use the extra money to continue to offer subscribers a wide range of quality options on its platform.

The basic Netflix account, which allows streaming on one device at a time and does not include HD or 4K content, now costs a dollar more per month at $9.99. Upgrading to the Standard tier allows you to watch on two screens at the same time and includes HD content for $15.49 per month, $1.50 more than the previous plan.

The top-tier premium package allows you to stream four streams simultaneously, as well as 4K Ultra HD content if available. It will now cost you $19.99 per month, up from $17.99.

Rates are also growing in Canada, the standard plan now costs CAD 16.49 per month.

The representative said Reuters they update prices to continue to offer a wide variety of quality entertainment. “As always, we offer a range of plans so members can choose a price that suits their budget,” the spokesperson added.

See also: Against the Odds: How Netflix Did It

Netflix stock jumped about $20 on the news but closed after losing half that profit at $525.69.

Netflix last raised prices in the US in October 2020, adding $1 to the standard tier and $2 to the premium tier. The base level has not changed in the latest wave of price increases.

With the new rates, Netflix is ​​now significantly more expensive than competing streaming services. HBO Max is available for $7.99 per month all year long, just like Disney+. The Disney Bundle, which includes Disney+, ESPN+, and an ad-supported version of Hulu, costs $13.99 per month.

Image credit: David Balev


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