Netflix has announced that all of its streaming plans are getting a price increase today. The Standard plan will now be $15.50 per month, up from $14. The 4K plan will be $20 per month, up from $18. The Basic plan will be $10 per month, up from $9. Subscribers in Canada will also see a price hike.
These price hikes will go into effect immediately for new subscribers and existing subscribers will see the increase rolled out “gradually” with customers being emailed about the change 30 days before the new price goes into effect, according to a Netflix Help Center article.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members,” a Netflix spokesperson told Reuters. “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.”
Netflix most recently raised the price of its Standard and Premium plans in October 2020. At that time, the Netflix Standard plan went up to $14 per month, a $1 increase, and the Premium plan went up to $18 per month, a $2 increase. At that time a spokesperson noted that the increase was to allow Netflix to “continue to offer more variety of TV shows and films.”