Thursday, October 5, 2017

Netflix is Raising Their Rates

Most Netflix customers in the U.S. will be paying $1-2 more a month to the online streaming service starting in November.

Mashablereports Netflix is raising prices on its Standard plan (currently $9.99/mo) by $1 and those on its Premium plan (now $11.99) will pay $2 more a month. The basic $7.99 plan remains unchanged for now.

"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 experience to help members find something great to watch even faster," Netflix said in a statement.

Most of the extra money will likely be spent on content creation and acquisition for subscribers. Netflix is expected to spend $7 billion on content in 2018.

Netflix plans are differentiated based on video quality and the number of concurrent streams. Here are the respective features of each plan. Customers and downgrade or upgrade at any time.

Prices reflected are prior to the impending rate increase.

The last Netflix rate increase was announced in 2014, but did not take full effect for all customers until 2016.

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