Netflix has raised prices for its subscription services once again in the US and Canada. All new subscribers will see the new pricing starting today, and existing customers will receive an email notice 30 days before the increase takes effect.
The walks were first reported by Reuters, which Netflix said, “We are updating our pricing so that we can continue to offer a wide variety of quality entertainment options.”
The new prices are as follows:
- Basic (1 stream, 480p): $8.99 → $9.99
- Standard (2 streams, 1080p): $13.99 → $15.49
- Premium (4 streams, 4K): $17.99 → $19.99
In Canada, the new prices are $16.49 for Standard and $20.99 for Premium, with Basic unchanged at $9.99.
The last increase was in 2020 (the default went from $13 to $14) and before that in 2019 (from $11 to $13). It is thought that they waited until January just so that no one can say they raised the price three years in a row.
The pandemic has seen a historic surge in demand for TV and movies, and while Hollywood is still trying to work out its strategy, Netflix has confidently doubled down on a winning formula and defaulted on its customers.
While no one likes to lose another penny a month, it’s hard to deny the value proposition with the platform’s seemingly endless selection of increasingly international productions. The smash hit “Squid Game” is just one example of a show that probably wouldn’t have been made (in fact, the creator unsuccessfully bought it for years) without Netflix’s deep pockets.
Expect an email soon detailing the changes – you will have the chance to change or cancel, but who among us has the strength to do so? Just use the increase as a justification for watching 10% more shows.