With the COVID-19 pandemic still on the go, 2020 has seen a huge bump in streaming subscriptions as people go out less (or not at all) but still require some sort of entertainment. Netflix has seen a steady rise in subscriptions, and you know how companies always raise prices when the product is selling well? Well, Netflix is doing just that, with subscribers set to pay more on Standard and Premium plans in the US.
Making original content costs money, and the one thing you can’t accuse Netflix of is skimping on either in recent years, running up a chunk of debt in the process. Having last raised prices in April 2019 for all three of its plans, The Verge has discovered that Netflix is restricting its price bump to the Standard and Premium tiers this time around.
The price increase goes live for the next billing cycle, so you’ll see the extra money being taken out of your account (if you are a Standard or Premium subscriber) with your next payment. The increases are as follows:
- Standard Plan: Up from $12.99 to $13.99 ($1 increase)
- Premium Plan: Up from $15.99 to $17.99 ($2 increase)
The Basic plan stays at $8.99, and at least for the moment, the changes to the Standard and Premium plans are restricted to the US although you can be sure that the rest of the world will follow suit in the coming months.
What do you think about the price bump? Are you going to stick with Netflix or mull over your options?