Netflix raises monthly subscription prices in the US


(CBS News)

Netflix increased its monthly subscription fee in the United States on Friday, a company spokesperson confirmed to CBS News. Depending on the plan, the monthly subscription price has increased from $1 to $2.

In the US, the standard plan has increased by $1.50 to $15.49, while the basic plan, which allows one stream on one screen at a time, has gone up $1 to $9.99 dollars and the premium plan is $2 to $19.99.

“We understand that people have more entertainment options than ever before, and we are committed to providing an even better experience for our members. We’re updating our prices so we can continue to offer a wide range of quality entertainment options. As always, we offer a wide range of plans so members can choose a price that fits their pocket,” a Netflix spokesperson told CBS News.

According to the company’s website, the increased rates will apply to new members when they sign up, but will gradually take effect for existing members. Existing members will be notified 30 days before their price changes unless they change the plan.

The streaming service has hiked the price of its standard and premium monthly subscriptions in October 2020.

Netflix saw significant subscriber growth during the COVID-19 pandemic lockdown, but growth slowed last year when restrictions were lifted.

Netflix had nearly 214 million subscribers worldwide as of October 2021, Limit line reported.

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