Netflix Announces $1 Price Hike For Its 'Standard' Tier


Netflix is surging in popularity, and it looks like the company is feeling confident enough to turn that into a bigger profit.

The company has announced that it will be hiking the price of its "standard" tier, raising it up $1 to $9.99 per month. That price change will kick in on November 18 for just the standard tier — both the "basic" tier and the "premium" tier will remain at the same price.

Current members of Netflix might be frustrated about the change, but they will catch a bit of a break: Netflix will extend their current price for one year.

"To continue adding more TV shows and movies, including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America," said Anne Marie Squeo, a Netflix spokesperson, in a statement.

Netflix has grown its user base to a massive 65 million subscribers, largely thanks to its push for original content like "House of Cards." That push, however, comes with a price tag that Netflix has to pay. Last year, that prompted the company to raise prices from $7.99 to $8.99.

Of course, while the extra dollar will be a little frustrating, it likely won't cause too many people to end their subscription or dissuade more people from joining the service.

ⓒ 2018 All rights reserved. Do not reproduce without permission.
Real Time Analytics