Netflix has once again raised its prices across all streaming plans, meaning subscribers are now seeing higher monthly bills.
This new change will affect every tier in the Netflix plan lineup, including the ad-supported, standard, and premium tiers. While the exact change in price will vary by specific plan, each one will increase by at least $1. For example, the premium plan will go from $24.99 to $26.99 due to these changes.
Why Does Netflix Keep Increasing Prices?
This latest price hike comes as Netflix continues to grow and gain popularity again. Millions of new subscribers have joined over time to watch their favorite shows, movies, and live content. CNBC reports that the platform recently blew past 300 million global subscribers.
With heavy competition from other streaming services still heating up, Netflix has began to heavily invest to stay ahead of the game. The company spends billions annually on content and exclusive deals. The costs of those exclusive deals are now being thrust onto customers through these gradual price increases.
What This Change Means for Subscribers
For many users of the streaming service, this is yet another price increase in a short period of time. This was already creating unease amongst customers, as it seems every service is raising prices. Regardless of that fact, Netflix still remains the top dog in the streaming platform game, as the number of subscribers continues to rise even with the recent changes.
As competition grows, companies will continue to push their limits to invest in more content, and price hikes are likely to become a part of the streaming experience. For now, just be prepared for this concrete price change.
