Roommates, we know how much you love to pull up Netflix and stream your favorite TV shows and movies, but now you need to be prepared to come up with a few more coins to do so. In a recent announcement, popular streaming service Netflix confirmed that the prices are going up!
In case you’re wondering, it’s not just some plans being hit with an increase, but all of them in both the U.S. and Canada. @CNN reports, in the U.S., the subscription price for the standard plan increases to $15.49, the basic plan rises to $9.99 and the premium plan is now $19.99. A Netflix spokesperson spoke about the latest price increases.
“We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members. We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget,” they said.
Meanwhile, Canadian Netflix subscribers are also included in the pricing increase. In Canada, the price for Netflix’s standard plan went up $1.50 to $16.49—and the premium plan went up $2 to $20.99 Canadian dollars, although the basic plan was unchanged.
The reasoning for the company raising its prices is said to be due to market saturation and increasing subscribers. The streaming service market now has more options than ever in comparison to when Netflix originally created the marketplace back in the early 2000s.
Additionally, Netflix now has more subscribers than at any point in the company’s history. The company now counts a total of 74 million subscribers in the U.S. and Canada.
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