Netflix just announced its plan to raise the price of its most popular price plan right in the face of the biggest expansion of competition it’s ever faced. New streaming services are coming from Disney, WarnerMedia, and NBCUniversal in the near future – but it would appear that Netflix won’t be backing down. What’s Netflix going to do with all that cash? Why, buy more shows and movies, of course.
As we heard this past October, Netflix isn’t afraid to take a pay raise. “Our job is to focus on, invest in providing our members incredible experiences, more great content, and great product experiences,” said Chief Product Officer Greg Peters. “When we do that and we do it well, we earn the right to increase price a bit.”
Those users with the following Netflix subscription plans will find price increases accordingly. The higher the price, the higher the price increase – you’re already spending this might, right? Might as well spend a little more. Or so we’re being… sort of told.
Netflix Plan Price Increase:
$13.99 increase to $15.99 USD
$10.99 increase to $12.99
$7.99 increase to $8.99
The most expensive plan includes four simultaneous streams of 4K video at once on the same account. The mid-tier plan includes two HD streams at once. The cheapest plan includes two streams of non-HD content.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members,” said Netflix in a statement today. The price increases are between 13 percent to 18 percent, the largest percentage increase in price to the service since video streaming with Netflix began – back in January of 2007.
It is NOT, however, the largest price increase to Netflix subscriptions in that time. You’ll obviously remember the March of 2009 price hike strictly for Blu-ray subscribers. Not long after that, Xbox 360 got access to what was called “Netflix Instant” up until not-too-long ago.