Netflix increased the price of both its basic and premium plans in the U.S. Wednesday, as well as in France and the U.K.
The cost of the streamer’s ads ($6.99 per month in the U.S.) and standard ($15.49) tiers remain the same in those territories.
“While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more,” Netflix said in a letter to shareholders Wednesday, which accompanied its Q3 financial results.
Netflix is increasing the price of its basic plan to $11.99 and premium to $22.99, up from $9.99 and $19.99, respectively.
In the U.K., basic plans will now cost £7.99 per month, and premium will run £17.99, while in France those plans are rising to 5.99€ and 19.99€.
Netflix says “our starting price is extremely competitive with other streamers and at $6.99 per month in the US, for example, it’s much less than the average price of a single movie ticket.”
More to come…
