News made the rounds on Thursday that Netflix is hiking its prices once again. For the second time in as many years, the world’s favorite provider of streaming movies and TV shows will make its plans pricier in the United States and abroad. The company has been spending a fortune on original series, movies, documentaries, and comedy special, and that investment has paid off as Netflix’s subscriber count continues to increase. Next year alone, Netflix will spend more than $7 billion on original programming.
Subscribers love Netflix’s original content, and it has quickly become the main draw of the service. In October alone, Netflix has 29 different original movies, shows, and specials set to premiere, including the hotly anticipated second season of Stranger Things (you can find the full October release schedule of Netflix originals right here). Now, they’ll have to pay more to get it — but how much more? And when?
The answers are fairly straightforward, but actual details were often drowned out on Thursday amid all the user complaints and analyst praise. Yes, of course Wall Street is ecstatic that Netflix is raising its rates, and the stock hit an all-time high on Thursday following the news.
Let’s cut through the noise and look at exactly what’s happening, and when.
If you’re a current Netflix subscriber, your rates will go up beginning in November. The standard $9.99 Netflix subscription will climb to $10.99 per month, a $1 increase. If you’re currently on the premium plan that provides 4K content and supports four concurrent streams, your monthly fee will jump to $13.99 from $11.99, a $2 increase.
There is no firm start date for the Netflix price increase. Instead, you’ll simply see the new rate whenever you get your November bill.
For new subscribers, the new prices take effect immediately. Sign up for the standard Netflix streaming plan today, and you’ll begin paying $10.99 per month right off the bat. Sign up for the premium plan with 4K and four concurrent streams, you’ll pay $13.99. (In case you were wondering, the standard plan supports up to two concurrent streams.)
Of note, the timing of these price increases is the same in the UK, but the numbers are obviously different. The standard Netflix plan will jump to £8 from £7.50, and the premium plan will rise to £10 from £9.
We’ll close with a quick recap of US rates so all the numbers are in one place.
Current subscribers, beginning in November:
- Netflix standard plan: Old price $9.99, new price $10.99
- Netflix premium plan: Old price $11.99, new price $13.99
New subscribers, beginning immediately:
- Netflix standard plan: $10.99
- Netflix premium plan: $13.99