For those in the United States, Netflix is getting slightly more expensive.
Netflix currently has three plans: a basic plan, a standard Full HD plan, and a premium 4K plan — only the latter two will get their prices increased, and the cheapest plan will remain at $7.99 price. The standard plan will go up from $9.99 to $10.99, while the premium plan will go up from $11.99 to $13.99, representing an increase of $1 and $2, respectively.
Netflix Subscription Prices Increase, Again
It's a move that The Washington Post said could disappoint many fans even if it'll help the video-streaming service take on more challenging original projects that have made its service so attractive to cord cutters and those looking for compelling on-demand content.
The new prices are already in effect for first-time Netflix subscribers and will expand to current users this month, according to Netflix.
"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," the company said.
This isn't the first time for this to happen. However, the last time two or more subscription plans increased was way back in 2014, and it involved a grandfathering system that allowed old users to keep paying the lower price for at least two years. This new price hike doesn't have that system, and that means every subscriber will be paying the higher price soon.
Netflix To Invest $8 Billion In Original Content
The extra dollars will help put more cash in Netflix's coffers as the company grows both in subscriber count and spending. Netflix produces a ton of original content, including TV shows, films, and documentaries, and the budget for 2018 is reportedly close to $7 billion, way, way up from the previously reported $6 billion.
Creating original content seems to be most expensive aspect of Netflix's business, but it makes sense because the company would like to rely less on licensing third-party content and rely more on greenlighting its own excellent, award-winning programming. That is one of its biggest strengths, and part of the reason why people stay subscribed to the service.
Also, it seems Netflix is becoming more eager to take on riskier projects after The Handmaid's Tale won Best Drama at this year's Emmy Awards, which marked Hulu as the first streaming service to ever win that award.
Subscribed to Netflix? Do you think this price hike is fair? Will you cancel your subscription plan because of it? As always, feel free to sound off in the comments section below!