Netflix has raised the price of its monthly subscription in the United States and Canada
Netflix said that monthly subscription prices in the US are increasing by as much as $2 depending on the plan
Netflix is raising the monthly subscription price for its streaming video customers in the United States and Canada amid growing competition from other streaming services like HBO Max and Disney+. The California-based company said Friday that prices for monthly subscriptions will increase by $1 to $2 in the US, depending on the plan.
The most used standard plan with a maximum of two screens allowed for simultaneous streaming will now cost $15.49 per month in the US, up from $13.99. Netflix's standard plan in the US will now cost more than HBO Max and Disney+. AT&T Inc's HBO Max currently offers an annual subscription at $11.99 per month. Disney+ from Walt Disney Co costs $7.99 per month or $79.99 per year.
While the basic plan with a flow increases by $1, to $10; its most expensive plan, which allows four simultaneous streams, also in ultra HD, goes up $2, to $20.
The standard plan in Canada also increased by the same amount in local currency, rising to C$16.49 from C$14.99. The premium plan increased by C$2 to C$20.99, but the basic plan remained unchanged at C$9.99.
Plans vary based on the number of screens users can stream videos on simultaneously and the number of devices that can download videos. DVD by mail service requires a separate plan.
The price increase on Netflix plans for users in the US and Canada is effective immediately for new customers. Existing subscribers will see the new prices in the coming weeks when they receive their monthly bills.
"We understand that people have more entertainment options than ever before and we are committed to providing an even better experience for our members," a Netflix spokesperson was quoted as saying by Reuters.
"We are updating our pricing so we can continue to offer a wide variety of quality entertainment options. As always, we offer a variety of plans so members can choose a price that fits their budget," the spokesperson added.
Source: Hindustan Times