Netflix today announced a price increase, which will make the standard and premium plans more expensive, while pricing on the entry-level plan remains the same.
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The basic plan that limits quality to standard definition continues to be $8.99 a month, but the standard plan will now be priced at $13.99 (up from $12.99), and the premium plan will now be priced at $17.99 (up from $15.99).
The standard plan lets people watch in 1080p quality and includes streaming on two screens, but those who want to watch 4K Netflix content or watch on up to four screens at a time need to subscribe to the most expensive premium plan.
Netflix previously raised prices in January 2019, raising the cost of the standard tier from $10.99 to $12.99 and the cost of the premium tier from $13.99 to $15.99.
The changes will take effect immediately for new customers who sign up to Netflix, and current customers will see the updated prices on their bills over the course of the next two months, according to CNBC. Customers will get a 30 day warning prior to the price hike.
During the last Netflix earnings call, Netflix COO Greg Peters said that if Netflix is delivering more value for users, then there is “an opportunity to occasionally go back” and ask members “to pay a little bit more.”
