Netflix is raising two of its pricing tiers for United States subscribers beginning next month, Mashable reports. For those now paying $9.99 per month for HD streaming on a maximum of two screens at a time, the price will change to $10.99. The price of the Premium tier will rise from $11.99 to $13.99.
The streaming service is about to hike up their prices for two out of three of their plans, effective next month. Reportedly, the price increases were due to the service adding more original content, along with introducing new product features and improvements. Netflix produces a ton of original content, including TV shows, films, and documentaries, and the budget for 2018 is reportedly close to $7 billion, way, way up from the previously reported $6 billion. Though it took Netflix a couple of years to get grandfathered users up to the $10.99 tier, the process of raising prices won't be almost as long this time around.
Most of the subscriber growth came from outside the USA, where Netflix has invested heavily in establishing itself as a global television service. Keep in mind, the prices shown below don't reflect the new price changes. Subscribers to the lowest, $7.99 plan will not see an increase in price, according to Mashable's report. Notifications of the price hikes will begin rolling out in two weeks - you'll have a 30-day warning before the higher price starts hitting your credit card.
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Why is Netflix raising its prices in the UK? This time around, subscribers are only getting a few weeks' notice, and Netflix will be rapidly increasing its revenue. Moreover, the premium tier subscription, which now costs $11.99 per month will go up to $13.99 per month.
The last price increase came in 2016.
Netflix is squeezing a bit more out of its customers. Others validated the service's value even at the new higher rates. HBO Now is available at $15 a month while Hulu's advertisement free offering is $11.99.