Netflix announces largest subscription price hikes since launching

The online streaming platform will up the cost of all of its subscriptions.
Author:
Publish date:

If you're a Netflix subscriber, you can expect to see the amount you pay go up over the coming months.

The online streaming giant announced on Tuesday that it will be upping the subscription cost for all three of its plans, which go into effect immediately for new subscribers, and will be phased in over the next three months for existing customers.

Here's a look at what the changes will be.

Plan typeCurrent costNew cost

Basic

$8

$9

Standard HD (most popular)

$11

$13

Premium UHD

$14

$16

The price hikes of between 13 and 18 percent are the largest increases in the company's 12-year history, according to CNBC, and the fourth time it has hiked prices since it launched.

Netflix currently has 58 million U.S. subscribers and 78 million outside the U.S.

In a statement, the company said the raised prices will ensure it can "continue investing in great entertainment and improving the overall Netflix experience for the benefit of our members."

Netflix has been investing heavily in original content in recent years, and is facing increasing competition not only from the likes of Hulu and Amazon Prime, but content producers like Disney, which will eventually pull all its content from Netflix as it launches its own subscription streaming service.

Just last month, Netflix announced it'd be paying $100 million to stream "Friends" over the next year, having initially announced the '90s sitcom would be removed from its service as its contract with AT&T WarnerMedia was coming to an end, as Recode reports.

At $13, Netflix's standard HD package, which allows you to use two simultaneous streams, is still cheaper than the $15-a-month HBO charges for a subscription. Hulu typically charges $7.99-a-month with commercials, or $11.99-per-month without.

The reaction to the Netflix price hike is a mixture of some saying they'll be canceling their subscriptions, and those saying it's well worth the money, particularly considering the price of cable TV packages.

Next Up

covid

Here is Minnesota's COVID-19 update for Monday, Jan. 18

The latest update from the Minnesota Department of Health.

Tom Kelly Jr.

Tom Kelly Jr., son of Twins World Series manager, dies at 42

He was a member of the 2001 UST national championship team.

Hennepin County CSI

Police: Man shot in the head by woman in Richfield

It happened in the early hours of Monday.

University of St. Thomas

St. Thomas students robbed by suspects in ski masks

Nobody was injured in the early Saturday incident.

mn state capitol january 17 2021

Amid huge police presence, weekend rallies at state Capitol were tiny and peaceful

Officials across the U.S. remain on alert for possible violence ahead of President-elect Joe Biden's inauguration on Jan. 20.

Antoine Winfield Jr.

Watch: Gopher alums Antoine Winfield Jr., Tyler Johnson make key plays in Bucs' playoff win

The Minnesota greats had a pair of highlights as Tampa Bay advanced to the NFC Championship.

Er-hgw7XYAQup5n

Crews respond to fire at Gertens in Inver Grove Heights

It's reported that a greenhouse on the grounds was on fire.

Marcus Carr

Why the Gophers could be in line for a high seed in the NCAA Tournament

The Gophers are done with a brutal stretch and are poised to make a run.

Related

Hulu subscriptions are super cheap right now

The streaming service is offering the deal for $0.99-a-month.

YouTube TV, FSN

YouTube TV adds more channels, but hikes subscription fee to $65

The streaming service says the new price reflects the cost of content.

AT&T hikes the price of DirecTV NOW streaming service

But subscribers will be given HBO as part of their new package.

Coen Brothers confirm Western series on Netflix

The Twin Cities filmmakers announce: "We are streaming motherf*****s."

Bad news ... Netflix is increasing its prices

Here's how much its most popular package will go up.

Netflix knows what you want to watch at different times of the day

Turns out certain genres are more popular at different times.

Dear Minnesota: Dear White People hits Netflix in April, but didn't film here this time

The Dear White People Netflix series will be 10 episodes, at a half hour apiece.