Netflix raises price for Standard and Premium subscription plans2020-10-30 19:15 by Daniela
Netflix is raising prices for U.S. streaming subscribers, coming as it faces arguably its stiffest competition to date and while millions of Americans are struggling financially amid the COVID pandemic.
Current Netflix customers will see the updated prices on their bill over the next two months, Netflix told CNBC. Customers will get a warning 30 days prior to the change. New subscribers will have to pay the updated monthly fees.
The company said the price of the Standard HD two-stream plan (its most popular tier) is going up by a buck in the U.S., from $12.99 to $13.99 per month. The Premium 4K four-stream plan increased $2, from $15.99 to $17.99 monthly. Netflix’s single-stream/SD-only Basic plan will remain at $8.99 per month. The company earlier this month raised prices in Canada, when it boosted the Standard plan from C$14 to C$15.
"We understand people have more entertainment choices than ever and we're committed to delivering an even better experience for our members," a Netflix spokesperson said in a statement. "We're updating our prices so that we can continue to offer more variety of TV shows and films – in addition to our great fall lineup. As always we offer a range of plans so that people can pick a price that works best for their budget."
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