Streaming fans, we have good news and bad news. The bad news is that Netflix have raised their prices to their highest levels in the company’s 12-year history.
The good news – if you’re reading this in the UK at least – is these changes only apply to the US.
But it’s probably only a matter of time until they go global, so maybe that isn’t good news after all.
The monthly subscription fee for a ‘standard’ Netflix account (HD, no Ultra HD, 2 screens) will be raised to $13 ($12.99) a month from the previous cost of $11.
Additionally, the ‘Basic’ plan (no HD, no Ultra HD, 1 screen) will go to $9 ($8.99) from the previous $8, with the ‘Premium’ plan (HD, Ultra HD, 4 screens) going to $16 ($15.99) from $14.
Netflix will are apparently going to notify subscribers about the price hike via email, although the updated fees have already appeared on the subscription page.
“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,” a Netflix spokesperson told The Hollywood Reporter.
The last price increase for Netflix subscribers was in 2017, and the latest price hike comes in the face of incoming competition from Warner Brothers and Disney, who are both set to launch their own streaming services soon.
With Netflix cancelling their Marvel series (including the hugely popular Daredevil), and with benchmark original series such as House Of Cards and Orange Is The New Black coming to an end, subscribers will have to decide if Netflix’s upcoming series and movies are enough to justify the price rise.
Those include comic-book adaptations The Umbrella Academy and Locke & Key, the third season of Stranger Things, and upcoming movies such as J.C. Chandor’s Triple Frontier, (starring Ben Affleck and Oscar Isaac), and Michael Bay’s 6 Underground (starring Ryan Reynolds).