It’s the first time the company has raised prices in two years. The most popular plan—which costs $10 for HD and viewing on two screens simultaneously—will now cost $11 per month (a $1 increase). The premium plan, which is currently priced at $12 for 4K and streaming on four screens simultaneously, will cost $14 (a $2 increase). Meanwhile the basic plan, which allows for one screen and SD viewing, will remain unchanged at $8 per month.
The price change will reportedly take effect for current subscribers starting Oct. 19, “depending on their billing cycles,” and new subscribers will see the price increase starting immediately.
Netflix raises U.S. prices for many new and current members https://t.co/rV7dKQsMMH
— The Wall Street Journal (@WSJ) October 5, 2017
In a statement to Engadget, the streaming giant said the bump is part of its normal growth as a company: “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster.”