Netflix is adding more original shows than ever before, but they come at a price. And soon, the streaming service will pass along a bit more of that cost to subscribers.
Starting in November, U.S. customers will notice a monthly price increase to Netflix’s mid-tier and top-tier plans. The “standard” service, now $9.99, will become $10.99, while the “premium” service will increase from $11.99 to $13.99. That’s a 10 percent hike and a 15 percent hike, respectively.
Good news for no-frills Netflix bingers: The “basic” service will stay the same price at $7.99.
The streaming platform confirmed details of the price changes on Twitter Thursday.
Current subscribers will be given a 30-day notice of the change by email as Netflix begins sending out notifications on Oct. 19. App users will see a notice of the price change there, too.
In the past, the company has tried not to spook longtime customers with grandfathered pricing. When Netflix announced a price increase in 2014, existing customers weren’t affected until 2016. This time, though, there’s no similarly generous grace period.
But stranger things have happened. By tossing Netflix an extra dollar or two per month, subscribers will help the streamer crank out even more series, movies and specials as it works to meet its goal to spend $7 billion on original content in 2018 ― up from $6 billion over the past year.
As the streaming landscape gets more and more crowded, we’ll see whether all that TV is enough to make people stay.
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