The streaming platform, Netflix has just raised its prices for users once again, effective immediately.

We all know that there are way too many streaming services out there. It seems like we canceled our cable service because it was cheaper to use streaming services. Now that we have so many, it's almost cheaper now to go back to cable. Netflix has always been one of the top dogs in the world of streaming. We all know that it offers a wide variety of movies, documentaries, and tv shows that are fantastic. Well, the company recently announced that users will be paying a little more per month to continue to enjoy these shows.

Why Is Netflix Raising Its Prices?

A Netflix spokesperson told Reuters why they have decided to increase its monthly prices for the first time since October 2020. Here is what they had to say:

We understand people have more entertainment choices than ever, and we're committed to delivering an even better experience for our members.
We're updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always, we offer a range of plans so members can pick a price that works for their budget.

How Much More Will You Be Paying Per Month?

I'm not sure if these price increases are a deal-breaker for most people, but if you're on a budget, it could be problematic especially if you subscribe to other streaming services too. Each subscription plan on Netflix is listed below along with how much you will be paying for it now.

  • Basic- a price increase of $1.00 from 8.99 per month to $9.99
  • Standard- a price increase of $1.50 from $13.99 per month to $15.49
  • Premium- a price increase of $2.00 from $17.99 per month to $19.99

 

Netflix says that the new rates will take effect immediately for new subscribers. Existing subscribers be notified in-app and via email about the price increase, which should be reflected in their next bill, according to Reuters.

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