Entertainment Netflix Is Raising the Prices of Its Standard and Premium Plans for New and Existing Members

03:20  30 october  2020
03:20  30 october  2020 Source:   people.com

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Netflix is raising the price of its most popular plan to today, premium tier increasing to . The basic plan will remain a month. New subscribers will have to pay the updated monthly fees, while current subscribers will see the new prices over the next few weeks as they roll out with customer’s

The price to Netflix and chill just went up!

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The streaming platform's standard plan — which offers HD streaming on up to two different devices simultaneously — will cost $13.99 up from $12.99. The service's premium plan — which provides up to four ultra HD streams — is now $17.99 up from $15.99.

There will be no change in price to the basic plan, which offers a single-streaming option.

The new prices take effect Thursday for any new members signing up. As for current members, users will receive a notification within the app 30 days ahead of the price increase. Timing will be based on the specific member's billing cycle and will be rolled out over the course of the next few months.

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Netflix will raise the price of its premium and standard subscription tiers, beginning in November, but keep basic plans the same. “From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix

Netflix Raises Price of Standard Monthly Plan in U.S. to per Month. Here comes another price hike for Netflix customers in the U.S.: The streaming giant will hike the price of the Standard two-stream HD plan , its most popular package, by about 8% -- going from .99 per month to .99.

Millie Bobby Brown et al. posing for the camera: Netflix Netflix's Stranger Things © Provided by People Netflix Netflix's Stranger Things

Explaining the update, a Netflix spokesperson tells PEOPLE it was done so that the streaming service can continue to "offer more variety of TV shows and films."

"We understand people have more entertainment choices than ever, and we're committed to delivering an even better experience for our members," the spokesperson says. "We're updating our prices so that we can continue to offer more variety of TV shows and films — in addition to our great fall lineup."

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"As always we offer a range of plans so that people can pick a price that works for their budget."

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Netflix provides its consumers with three primary monthly pricing plans , as follows Netflix is also raising prices of their basic plan up to - a 13% increase. The price increase will immediately affect new users, but changes will be implemented to existing users' accounts over the next few

(The new prices took effect Tuesday for new subscribers. For existing customers, the increases will start in about three months.) Those figures will be updated Thursday as part of its earnings report. But Netflix technically isn’t losing any money. In fact, it claims a profit every quarter since accounting

The 2020 update comes after Netflix raised its subscription prices in 2019, marking the biggest price adjustment since Netflix launched streaming services in 2007.

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Netflix saw an increase in subscribers this year as many sheltered in place amid the ongoing coronavirus pandemic. The streaming platform had added at least 26 million paid subscribers in the first two quarters of 2020, The Verge reported.

The brand is home to shows and films like Orange Is the New Black, Stranger Things, House of Cards, The Crown, Bird Box and recent additions Emily in Paris, The Queen's Gambit, Cobra Kai, Holidate and Hubie Halloween.

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