Netflix is hiking subscription prices across all its plans in its first major price increase in more than a year.
The plans were disclosed on Netflix’s help page Thursday.
The ad-supported tier will rise by $1 per month to $8.99, with the standard plan rising by $2 per month to $19.99 and the premium plan also rising by $2 per month to $26.99 pr month. The company also raised the cost of its “extra member” fee by $1, to $6.99 for ad-supported plans and $9.99 for ad-free plans.
Netflix last raised prices early last year, with similar increases. Of course, the platform has been significantly ramping up its content, not only in scripted entertainment, but in live events and sports, not to mention other areas like video podcasts and games. Netflix executives have long said that they raise prices when they feel they are delivering enough value to justify them. The company has by far the lowest churn in the industry, underscoring its leadership in the space.
More to come.
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