Netflix has raised the prices of its subscription services once again in the U.S. and Canada. All new subscribers will see the new prices starting today, and existing customers will receive an email notice 30 days before the increase enters effect.
The hikes were first reported by Reuters, which Netflix told: “We’re updating our prices 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 (standard went from $13 to $14) and before that 2019 (from $11 to $13). One imagines they waited until January just so no one can say they raised the price three years in a row.
The pandemic has seen something of a historic increase in demand for TV and movies, and while Hollywood is still trying to sort out its strategy, Netflix has confidently doubled down on a winning formula and slipped its customers the bill.
While nobody likes to lose another buck a month, the value proposition is hard to deny with the platform’s seemingly endless selection of increasingly international productions. The breakout hit “Squid Game” is just one example of a show that probably wouldn’t have been made (indeed the creator shopped it unsuccessfully for years) without Netflix’s deep pockets.
Expect an email soon detailing the changes — you’ll have a chance to change or cancel, but who among us has the strength to do so? Just use the increase as justification for watching 10% more shows.