Netflix Just Announced It Will Raise Prices for All Subscribers
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It’s not cheap to produce the insane amount of original film and series content that Netflix regularly cranks out, and over the next few months, subscribers will be paying more each month to help carry the cost. While subscribers won’t be asked to fork over much more than they are currently paying, this Netflix price hike is actually the service’s biggest price increase ever.
It’s hard to believe that Netflix has been around for more than a decade now, and in that time the streaming service — which gives subscribers access to a litany of films and television series, both syndicated and original — has raised its prices four times.
The last time we saw a Netflix price increase was in 2017.
According to Entertainment Weekly:
The service’s most popular plan will see the largest rate hike, from $11 to $13 (this is an HD feed that includes up to two devices). The least expensive plan is going from $8 to $9 per month, while the ultra-HD 4K plan is going from $14 to $16. “We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” the company said in a statement.
That money will go towards what can only be described as the company’s massive investment in original content, which last year surpassed $8 billion. That’s more than either HBO ($2.5 billion) or CBS ($4 billion).
Those who do not already have Netflix accounts who sign up now will be paying these increased monthly fees. The higher Netflix price will make its way to current subscribers sometime over the next few months.
Even with the Netflix price hike, the steaming service remains cheaper than some of its competing platforms, including Hulu and HBO Now.