When it comes to on-demand entertainment options, you’d be hard pressed to find a service that provides users with more bang for their buck than Netflix. Not only is Netflix rather affordable, the streaming giant is continuously pumping out new content every single month. Case in point: this month alone, Netflix is rolling out 29 new original programs.
With Netflix throwing tons of money towards new productions, their costs are rising accordingly. Recall, Netflix is planning on spending upwards of $7 billion on content next year. That said, it’s perhaps not too surprising that the average cost of a Netflix subscription for new and existing users is going to increase.
The price hike isn’t anything outrageous, so there’s really no reason to panic. The new pricing details are as follows: Starting in November the cost of a standard Netflix subscription will increase from $9.99 a month to $10.99. For users who take advantage of the service’s premium plan, which offers support for 4K content and 4 concurrent streams, the price jumps from $11.99 to $13.99 per month.
Users who are just signing up for Netflix will be hit with the higher subscription rate immediately, beginning today. For existing users, the price increase won’t take effect until next month.
Netflix has raised their prices before, and while there’s always some immediate backlash, it’s hard to stay angry when Netflix keeps on pumping out more quality shows than the average user can realistically keep up with. And all things being equal, the value that Netflix provides relative to, say, a $100 cable subscription is pretty incredible.