Netflix is raising prices for its customers in the United States and Canada, less than a year and a half since its last fee increase. According to the company, the Standard plan, the company’s most popular one, is increasing by US$1.50, to US$15.49. Furthermore, Netflix’s most expensive plan is increasing by two dollars, to US$19.99; while its basic plan is up one dollar, to US$9.99.
"We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members. 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," a Netflix’s spokesperson said in a statement.
The price increases, the first in those markets since October 2020, took effect immediately for new customers. Existing members will see the new fees in the coming weeks, when they receive their monthly bills.
The price increase is mainly due to a large investment in original content that the pioneering video streaming company is making to compete with the large number of OTT platforms that have entered the market in recent years, such as Disney+, Amazon Prime Video, HBO Max, and Apple TV+, among others.