Netflix is raising the price of its subscription plans - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Netflix is raising the price of its subscription plans

Updated:
© Digital Trends © Digital Trends


By 


Provided by

Time to put a few more dollars aside to enjoy Netflix. Beginning in November, Netflix will raise the monthly price for its standard tier from $10 to $11, and the price of its premium tier from $12 to $14.

This will be the largest price increase for the streaming video service since 2014.

According to reports, the increase in price will only affect U.S. customers, who should start getting notifications from Netflix about the change starting October 19. Those customers affected will be given a 30-day notice about the price increase, and the change could roll out to some customers differently depending on their billing cycles.

Netflix is keeping its $8 basic tier unaffected for those that don’t mind only being able to watch standard-definition streams on one device at a time.

This will be the second adjustment Netflix has made to its subscription prices since May 2014 when it raised its standard tier’s price from $8 to $9 and ultimately introduced the aforementioned $8 basic tier. Last year, another change shifted Netflix’s monthly standard subscription price to $10. Today’s announced increase of $2 for the premium tier plan is the largest shift in subscription fees since Netflix first introduced its streaming-only option in November 2010.

The price hike likely doesn’t come as a shock to anyone following Netflix’s highly publicized growth in recent years, with the company devoting more of its resources toward developing its own original projects. In August, Netflix’s chief content officer Ted Sarandos revealed Netflix plans to spend a gargantuan $7 billion on content next year, up from the $6 billion it spent this year.

“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 to help members find something great to watch even faster,” stated Netflix in a statement regarding the price hike.

The amount of money Netflix has been dumping into content has benefited the streaming service mightily. In June, a Statista study found Netflix and its more than 50 million subscribers in the U.S. had surpassed the number of people who subscribe to cable television in the U.S. Netflix also dropped a reported $130 million on the first season of The Crown, and was rewarded with five Golden Globe and Emmy awards, including Best Television Drama series at the 74th annual Golden Globes Awards this year.

Those Netflix and chill sessions are going to be a bit pricier this fall.

This article was originally posted on Digital Trends

Content provided by
  • Most Popular StoriesMost Popular StoriesMore>>

  • One Male Dead After Early Morning Shooting in Galena Area

    One Male Dead After Early Morning Shooting in Galena Area

    Sunday, June 24 2018 8:56 PM EDT2018-06-25 00:56:28 GMT

    Officials say shortly before 3:30 a.m. on Sunday, June 24, 2018, deputies responded to the area of White Cedar Drive and Galena Meadows Road on the report of a shooting that had just occurred. 

    More >>

    Officials say shortly before 3:30 a.m. on Sunday, June 24, 2018, deputies responded to the area of White Cedar Drive and Galena Meadows Road on the report of a shooting that had just occurred. 

    More >>
  • Our Apologies

    The page you requested is currently unavailable. Pages on this site are constantly being revised, updated, and occasionally removed. You may have followed an outdated link or have outdated pages in your

    You have reached a page which is currently unavailable. We apologize for any inconvenience. Please use your browser's BACK button to return to the previous page

    More >>
  • Shots Fired Inside midtown bar, The Loving Cup

    Shots Fired Inside midtown bar, The Loving Cup

    Sunday, June 24 2018 12:49 PM EDT2018-06-24 16:49:35 GMT

    They say there were two or three uninvolved people struck by shrapnel. There were no serious injuries reported and the victims were treated on scene by REMSA.

    More >>

    They say there were two or three uninvolved people struck by shrapnel. There were no serious injuries reported and the victims were treated on scene by REMSA.

    More >>
INFORMATIONAL DISCLAIMER The information contained on or provided through this site is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional financial or accounting advice. Always seek the advice of your accountant or other qualified personal finance advisor for answers to any related questions you may have. Use of this site and any information contained on or provided through this site is at your own risk and any information contained on or provided through this site is provided on an "as is" basis without any representations or warranties.
Powered by Frankly
All content © Copyright 2000 - 2018 Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.