Another price hike, the $20/month barrier is crossed: From Netflix with love

Another price hike, the $20/month barrier is crossed: From Netflix with love،

October 2015: $11.99
October 2023: $22.99

That’s what eight years can do. If you’re wondering what these numbers mean, they describe the evolution of the cost of the Premium plan in Netflix’s subscription lineup.

The streaming giant has announced yet another price increase (via 9to5Google). Effective immediately, the changes affect new and existing Netflix customers. Thus, the psychological barrier of $20 for the Premium package is crossed: it goes from $19.99/month to $22.99/month.

The latest price hike also applies to the Basic plan – going from $9.99/month to $11.99/month. As you know, Netflix no longer offers the Basic plan to new subscribers. The streamer closed the door on the Basic tier earlier this year, leaving existing subscribers to rejoice in the cheapest ad-free plan. From now on, those who benefit from Basic will have to pay an additional $2.

So, to summarize: Netflix US prices are now as follows and are applicable for existing subscribers in their next billing cycle. It’s here:

Standard with Ads – $6.99/month
Basic (available to existing subscribers only) – $11.99/month
Standard – $15.49/month
Premium (it offers 4K content) – $22.99/month

The price hike was announced during Netflix’s latest earnings call:

Although we have primarily paused price increases as we roll out paid sharing, our overall approach remains the same: a range of prices and plans to meet a wide range of needs, and as we offer more value to our members, we occasionally ask them to pay. a bit more.

The report also shows that the company’s global subscriber base reached 247 million at the end of September. Netflix reported revenue of $8.542 billion, in line with analyst forecasts.