Netflix lifts monthly subscriptions for US and Canadian users. From $1 to $2 per month, the price will jump up based on the original plan. Last Friday Netflix announced the changes they want to provide to gather enough money for the new programming. According to the company, they need to invest in an advanced system to be able to compete against other competitors in the market.
The new prices are already implemented for the US and Canadian residents. The standard plan that was $13.99 per month now costs $15.49. It allows 2 streams for users. Premium plan from Netflix that offers 4 streams with ultra HD rose up to $2. Now it costs $19.99 per month. A basic plan with 1 stream rose up by $1. It costs $9.99 for a month.
As for Canada, the price for the standard plan went from CAD 14.99 up to CAD 16.49. The fee rose for the first time in the last 2 years. The previous increase took place in October 2020. Subscribers who already paid the monthly price will have to pay in the next several weeks when the monthly bill comes.
There was no previous report on the increase in the price. Netflix officials commented on the situation with the urge to increase the quality of the product. They want to update prices to offer more entertainment for clients. According to Netflix, customers still can pick the subscription plan that matches their budget.
It looks like Netflix suffers from numerous competitors on the market of online entertainment. Amazon, Apple, Walt Disney, and AT&T’s WarnerMedia, all are offering similar services. These companies invest millions to be able to compete against each other. As for Netflix, it plans to invest $17 billion in new programming.
Are you willing to pay more for Netflix services? Which plan do you have? You can express your thoughts in the comments below.