As Netflix’s catalogue gets bigger and as the company starts investing more into original TV shows and movies, obviously the company’s expenses will go up. They also need to invest more into its server capacity to accommodate more users signing up for its services, especially as more users start to stream in higher resolutions.
So much so that the company’s costs will undoubtedly go up, which is why it doesn’t really come as a surprise to learn that Netflix has recently announced a price hike. What this means for subscribers is that the Basic plan will now be priced at $9.99 a month, up a dollar from what it used to cost before.
The price hike also applies to the other tiers Netflix is offering, like the Standard plan which will now be priced at $15.49 a month, up $1.50 from before, and the Premium plan, which offers users the ability to stream in 4K and up to four screens at once, is now priced at $19.99 a month, a $2 price hike from before.
According to Netflix, the new prices will apply to new members, but will eventually be applied to all existing subscribers. Those who are already subbed will get an email 30 days before these changes come into effect which will give them a chance to either change their subscription or cancel their plans entirely.