Netflix increases the subscription prices of its monthly subscriptions in the US and Canada, with immediate effect for new subscribers from Friday.
Netflix spokesman says “We understand people have more entertainment choices than ever, and we’re committed to delivering an even better experience for our members,” the spokesman added “We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget,”
In the US, subscribers now pay $9.99 a month on the original Netflix plan, which allows one stream at a time on a single screen and does not offer HD streaming, $9.99 per month, compared to $8.99 in priority. Standard plans, which allow users to stream to two screens at the same time, now cost $15.49 a month, up from $13.99, and premium plans have risen to $19.99 a month.
Existing subscribers will see price changes “in the next few weeks” depending on their billing cycle, a Netflix spokesman told The Hollywood Reporter. Subscribers will receive an email and message in the app 30 days before the new subscription prices take effect on their accounts.
Canadian subscribers will also face a price increase, although the original plan remains at the same price until further notice. Standard plans in Canada now cost $16.49 and Premium plans cost $20.99.
Checkout what’s leaving Netflix in February 2022.
The price increase comes as Netflix slowed recent growth in the U.S. and Canada, sometimes losing about 400,000 subscribers in the region in the second quarter of 2021. The stream reversed those losses in the third quarter, adding that it also has about 70,000 new paid subscribers in the U.S./Canada, but the Asia-Pacific region contributed significantly to the growth of Netflix subscribers.
The streaming giant plans to announce its fourth quarterly result in 2021 later this month on January 20th.
