Netflix is raising the prices on its standard and premium subscriptions in Canada. The standard HD, tier which allows two screens will be going up one dollar from $13.99 CAD to $14.99 CAD, while the premium 4K HDR, 4-screen tier, is getting raised by two dollars, from $16.99 CAD to $18.99 CAD. The basic plan will stay at the current price of $9.99 CAD.
The new pricing is already reflected on the website for new users who sign up. Netflix says existing customers will see the new prices roll out within the next few weeks, depending on their billing cycle. All customers will be notified by email prior to the price change taking place.
According to Netflix, the jacked-up subscription cost is so the streamer “can invest more in films and shows as well as the quality of members’ product experience.”
This is the second time in two years that Netflix has raised its price in Canada. The last time was November 2018 when the streamer saw it’s biggest price hike yet, raising its standard and premium plans by $3.
Recently, an analyst shared in a note to clients that a price increase for Netflix subscriptions in the US and other markets is likely as well. Jefferies analyst Brent Thill believes the price will go up by $1-2 across all markets next year.
“We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience,” Netflix said in a statement at the time of its last US price hike in 2019.