The standard plan, which allows for two simultaneous
streams, now costs $15.49 per month, up from $13.99, in the United States.
Prices also went up in Canada, where the standard plan
climbed to CAD 16.49 from CAD 14.99.
The price increases, the first in those markets since
October 2020, took effect immediately for new customers. Existing members will
see the new prices in the coming weeks when they receive their monthly bills.
The price increases have not been previously reported.
"We understand people have more entertainment choices
than ever and we're committed to delivering an even better experience for our
members," a Netflix spokesperson said.
"We're updating our prices so that we can continue to
offer a wide variety of quality entertainment options. As always we offer a
range of plans so members can pick a price that works for their budget,"
the spokesperson added.
Ozark, Yeh Kaali Kaali Ankhein, and More on Netflix India in
January
The world's largest streaming service is facing the most
competition ever from companies looking to attract viewers to online
entertainment. Walt Disney, AT&T's WarnerMedia, Amazon and Apple are among
the rivals pouring billions into new programming.
Netflix had said it would spend $17 billion on programming
in 2021. The company has not disclosed spending for 2022.
The US price of Netflix's premium plan, which enables four
streams at a time and streaming in ultra HD, was increased by $2 to $19.99 per
month. For Netflix's basic plan, with one stream, the cost rose by $1 to $9.99
per month.
In Canada, the premium plan rose by CAD 2 to CAD 20.99, and
the basic plan was unchanged at CAD 9.99.
The United States and Canada are Netflix's largest region
with 74 million customers as of September 2021. Most of the company's recent
growth has come from overseas.
Netflix's subscriber growth slowed from a boom early in the
COVID-19 pandemic but rebounded with help from global phenomenon Squid Game, a
dystopian thriller from South Korea released in September. Total global
subscriptions reached 213.6 million.
The company's next subscriber report is due Thursday when
Netflix posts quarterly earnings. Analysts project the company will report 8.5
million new sign-ups from October through December, according to Thomson
Reuters I/B/E/S data, bringing its global subscriber base to 222 million.
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