Netflix raising prices in the U.S.
So, Netflix is increasing its subscription prices for the first time in two years, a move that will affect most of its 52 million customers in the United States, the company said Thursday.
The company’s most popular plan — which allows customers to stream titles on two devices with a single account — will increase by $1 to $10.99 a month. The premium plan — which allows customers to use the same account for four screens at once — will increase by $2 to $13.99 a month. The basic streaming plan, which only allows for streaming on only one screen at a time, will remain at $7.99 a month.
Existing customers will be notified of the new prices beginning Oct. 19, and they will have 30 days to decide whether to keep their current plan, change their subscription or cancel their account, Netflix said in a statement.
The price hike arrives as Netflix continues to increase production of original TV and movie content. The company said that by the end of the year it will have spent around $6 billion for original content in 2017. In August, Ted Sarandos, Netflix’s chief content officer, told Variety that the company planned to spend about $7 billion for original programming next year.