Popular streaming service Netflix has made the announcement that they’ll be driving up their prices. The basic plan will stay at its $7.99 USD cost per month, The HD Standard will be increased to $13.99 USD and the premium plan will be $17.99 USD.
A statement made by a Netflix representative was as follows: “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 more variety of TV shows and films — in addition to our great fall line up. As always we offer a range of plans so that people can pick a price that works best for their budget.”
This news is following Netflix’s recent success over the course of the pandemic. Netflix in that time saw a 5% increase in stock price, due to the price raise announcement, making the price rise 57% since the start of the year. This year also saw Netflix new subscribers slow down from 25 million new subscribers to just 3 million in Q3.
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