For customers in the US, the standard and premium Netflix plan costs are jumping. The updated pricing is already in effect for new customers while existing users will see the increase over the coming weeks. And the change comes as Apple TV+ is extending its free trials until February 2021.
The last time Netflix raised its prices was back in January 2019. With this new round of changes, Netflix’s basic plan remains the same at $8.99. It’s the standard and premium plans that are jumping $1 and $2 respectively to $13.99 and $17.99 amid increased competition in the streaming market with recent services like Disney+ and Apple TV+ (via The Verge).
While another price hike isn’t the news that customers will want to hear, a small silver lining is the $1 increase for the most popular “standard” plan is 50% less than what we saw last time.
As noted by The Verge here’s how Netflix COO/CPO Greg Peters recently hinted that a price jump was coming:
In the past, Netflix CEO Reed Hastings has said the company is okay with losing some customers due to things like price hikes and competitors. How about you? Is the latest jump something you’re alright with or will it make you reconsider your subscription? Share your thoughts in the comments below!
Questions about price hikes came up during Netflix’s most recent earnings call this month. Greg Peters, Netflix’s chief operating officer and chief product officer, said that as the company invests more into both content and tech developments, they’ll “occasionally go back and ask [customers] to pay a little bit more to keep that virtuous cycle of investment and value creation going.”
Here are the updated plans/prices:
