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Entertainment

Netflix raises monthly plan prices in the US and Canada

By Sanuj Bhatia January 15, 2022, 3:00 pm
netflix logo Source: Pocketnow

Netflix has raised the prices of its monthly plan in the United States and Canada. The plans now cost $1 or $2 more, depending upon the plans. The new pricing increase affects both new and current Netflix subscribers. Though for current Netflix subscribers, the price changes will be rolled out “gradually.” Netflix says it will email current members 30 days before the price hike goes into effect.

New Netflix USA Prices

The Basic price with no HD streaming (480p quality) now costs $1 more in the United States. The price has now risen to $10 per month from $9 per month. The Standard plan with HD streaming now costs $1.5 more, i.e., $15.50 per month from $14 per month. The price of the 4K Premium plan has risen to $20 per month from $18.

POCKETNOW VIDEO OF THE DAY
PlanNew PriceOld PriceDifference
Premium (4K, 4 screens)$19.99$17.99$2
Standard (HD, 2 screens)$15.49$13.99$1.50
Basic (No HD, 1 screen)$9.99$8.99$1

New Netflix Canada Prices

Similar to the United States, Netflix is increasing the prices of monthly plans in Canada as well. The Premium plan with 4K streaming is now CAAD $20.99 ($2 increase) whereas the Standard plan with HD streaming is CAD $16.49 ($1.50 increase). The Basic Netflix plan with no HD streaming remains unchanged at CAD $9.99.

PlanNew PriceOld PriceDifference
Premium (4K, 4 screens)CAD $20.99CAD $18.99CAD $2
Standard (HD, 2 screens)CAD $16.49CAD $14.99CAD $1.50
Basic (No HD, 1 screen)CAD $9.99CAD $9.99CAD $0

This isn't the first time Netflix is raising prices in the region The company increased the price of the standard plan from $13 per month to $14 per month in 2020. Similarly, Netflix raised prices in 2019, 2017, and 2015. Netflix says that it has raised prices so that it can continue to offer a wide variety of quality entertainment options. In a statement to Reuters, Netflix said:

We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget.

The change comes as Netflix faces fierce competition in the streaming space. With Apple TV Plus and Disney Plus adding more and more content to their library and gaining more subscribers, Netflix has had problems adding new subscribers. The company lost around 400,000 subscribers in the North American region during the second quarter of 2021. However, the price increase will be of no help.

Netflix doesn’t have the habit of dropping its prices after increasing it. So it's likely that these prices will remain permanent.

Source: Netflix | Via: Reuters, The Verge

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