The day every single Netflix user dreads is upon us–the company is raising its prices again. This price increase is applicable to all users in Canada and the US. You can expect your wallet to take a hit if you are a Netflix subscriber in any of these locations.
Netflix is bumping the price of its plans by $1-$2. Starting with the Standard plan, it’s going from $14 to $15. 50 per month. If you opt for the cheaper Basic plan, you’re looking at an increase from $9 to $10 per month. Finally, if you’re using the Premium plan, which includes 4K streaming, you’re going to have to pay $20 per month instead of $18.
In Canada, the Standard plan jumped to C$16. 49 from C$14.99. The Premium plan went from C$20 to C$20. 99, and the Basic plan’s price didn’t change.
New subscribers will see a price increase immediately. If you are an existing Netflix subscriber, the price will go up immediately. In that case, the company says the price changes “will gradually take effect.” The company also says, “Current members will receive an email notification 30 days before their price changes, unless they change their plan.”
As far as why Netflix raised the price, the company spoke to Reuters about the price increase. A Netflix spokesperson said, “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.”
That’s hardly a reason that’ll satisfy most Netflix users. It is stating that it must raise its prices in order to continue doing what it does. The company didn’t claim it was adding any new features, which would be what most users would like to hear in order to justify the price hike.
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