Netflix subscribers in the United States have been bracing themselves for a price hike for a while now, and that day has finally arrived, with Netflix today set to increase the cost of its subscription plans in the country.
The streaming giant is raising the cost of its most popular standard plan to $14 a month, while the premium tier price will go up to $18 a month. That’s an increase of $1 and $2 respectively. Basic plan subscribers are in luck, though, with the price of the lowest tier package remaining at $9.
Netflix last increased subscription fees in the United States in January 2019, and recently raised speculation that changes were imminent after the company increased the cost of some plans in Canada.
Netflix said the price hikes were necessary ‘so that we can continue to offer more variety of TV shows and films’. A spokesperson added, ‘As always we offer a range of plans so that people can pick a price that works best for their budget.
The streaming market has become more and more crowded over the last few years, with a whole host of companies launching their own platforms to host exclusive content. Where Netflix previously had little in the way of competition, now platforms like AppleTV+, DisneyPlus and HBO Max are forcing the company to step up its game.
Netflix still dominates the streaming market in terms of total subscribers, and is currently edging toward 200 million global users.
