Netflix Announces Price Hike: Here's What You Need to Know

A man is holding a remote control of a smart TV in his hand. In the background you can see the television screen with streaming entertainment apps for video on demand, streaming Netflix concept

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Netflix is implementing another price increase, which was revealed in the company's third-quarter earnings report. Starting today, users who are subscribed to the $9.99 per month Basic plan will now pay $11.99. Those on the $19.99 Premium plan will see their rate rise to $22.99. Meanwhile, the $6.99 ad-supported plan and the $15.49 Standard tier will maintain their current pricing.

More on Netflix's price increase.

Netflix had previously raised its prices in January 2022 and stopped offering the $9.99 Basic ad-free plan to new and returning customers in July, compelling them to invest more to avoid advertisements. Prices for the Basic and Premium plans are also increasing in the UK and France, with the ad-supported and Standard plans retaining their existing rates. In the UK, the Basic and Premium plans will be priced at £7.99 and £17.99, respectively, while in France, the Basic plan will cost 10.99€, and the Premium plan will be priced at 19.99€.

Plan in the US is considerably lower than the average cost of a single movie ticket.

In a letter to shareholders, Netflix stated, "As we deliver more value to our members, we occasionally ask them to pay a bit more," Netflix writes in its letter to shareholders." The company pointed out that their starting price is highly competitive compared to other streaming services. They used the example that their $6.99 per month plan in the US is considerably lower than the average cost of a single movie ticket.

However, the price hike has garnered discontent from many subscribers. A Reddit user expressed their dissatisfaction, saying, "First make more money with the crackdown. Then make MORE money with price hike. Will unsubscribe." Another Reddit user mentioned, "The only thing they were successful in was pushing me to cancel my long term subscription. I guess that counts as success."

According to the Netflix help page, they continue to add more TV shows and movies and introduce new product features. They stated that their plans and prices may change. "We also may adjust plans and pricing to respond to local market changes, such as changes to local taxes or inflation," they stated.

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Kayla is the midday host on Detroit’s 105.1 The Bounce. She started her career in radio back in 2016 as an intern at another Detroit station and worked her way here. She's made stops in Knoxville, TN, Omaha, Ne and other places before returning to Detroit. She’s done almost everything in radio from promotions to web, creating content on social media, you name it. She’s a true Michigander, born and raised. So, you can catch her camping or vacationing up north to exploring the downtown Detroit or maybe even catching a sports game. During her free time, Kayla enjoys watching movies, roller-skating, crafting, and music festivals. She and her husband together dip into many of the great things Michigan has to offer. Together they also like to travel. A few hobbies of hers include wine and beer tastings, crafting, hiking, roller skating, movies, home improvement projects, gardening, and festivals. She’s always looking to take on more local events happening in the community. She loves connecting with the community. When writing, Kayla covers topics including lifestyle, pop culture, trending stories, hacks, and urban culture.

Netflix Announces Price Hike: Here’s What You Need to Know

Netflix is implementing another price increase, which was revealed in the company’s third-quarter earnings report. Starting today, users who are subscribed to the $9.99 per month Basic plan will now…

Kayla Morgan

More on Netflix's price increase.

Plan in the US is considerably lower than the average cost of a single movie ticket.

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