Netflix is quietly raising prices starting this month. But it looks like this will only affect subscribers in the select countries including the United States according to Mashable which first reported on the price hike.
Netflix is adding a dollar to its most popular HD $9.99 plan. Right now the streaming company has three price plans namely; $7.99 which allows you stream on low definition on one screen at one time, then there’s the more popular $9.99 which allows you stream in high definition on two devices at once and then the last one is the $11.99 plan which lets you stream in 4K on four devices.
The only plan that won’t change is the $7.99 and hasn’t changed since 2010 but the $9.99 plan will now cost $10.99. The 4K plan which used to be $11.99 ow goes for $13.99 which is a 16 percent increase from what it used to be.
4K streaming in itself is still not as popular but as more users hook up to the technology either by buying 4K enabled TVs or high speed broadband services, it would mean that many of the over 140 million Netflix subscribers will start subscribing to its most expensive plan.
Users in France are getting a €1 increase too but it doesn’t appear that the price increase will change anything. Netflix now has some of the biggest content in the world and is on track to spending $6b so far this year on original content. Reports says the budget could be as big as $8 next year especially with the recent announcement by Shonda Rhimes, one of America’s biggest TV producers that she will be bringing her content exclusively to Netflix. Rhimes is behind big shows like Scandal, Grey’s Anatomy and How to Get Away with Murder among others.
Well if you are a subscriber in one of the countries that will soon see a bump in what you pay, Netflix plans to officially inform from October 19th.