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Netflix has raised the cost of its Standard and Premium plans with the price increases already visible on the service’s website when new customers attempt to sign up. The last time Netflix increased plan prices was back in early 2019.
Netflix is one of the more popular streaming services and not only in the U.S., but worldwide. Earlier in October, the company announced its third quarter results, confirming no less than 195 million paid subscribers, with 73 million of them based in the U.S. and Canada. As a result, any price increase will naturally affect a significant number of consumers.
The Netflix website has now been updated to highlight the latest price increases. Previously priced at $12.99 per month, the Standard plan has risen by $1 per month to $13.99. Likewise, the Premium plan has encountered a $2 increase, taking the monthly total up from $15.99 to $17.99. Unlike the 2019 price increase, the Basic plan has not been affected by the new price rise, with subscribers still only liable for $8.99 each month.
How the changes impact subscribers
With the website already reflecting the changes, new subscribers should expect to pay more today than they would have if they had signed up days ago. Furthermore, Netflix also recently removed the free trial period for new subscribers and therefore, the new higher rate will need to be paid immediately upon signing up.
Things are a little different with existing subscribers. First off, existing Netflix customers are not escaping this increase, unless they are on the Basic plan. However, due to the way subscription billing works, the exact date when the price increase takes effect will vary by user. It is expected that Netflix will reach out to existing subscribers to confirm the price change, but they should not expect it to take effect any sooner than the end of their current billing cycle.
For any existing subscribers now considering downgrading to save on the cost, the main differences between the Netflix plans is the video quality and the number of simultaneous streams. For example, while the Premium plan supports Ultra HD (4K HDR) and up to four streams at the same time, the Basic plan caps out at SD (480p) and one stream. As to be expected, the Standard plan sits in between the two with Full HD (1080p), along with the option to stream on up to two devices at the same time.