If you were already somewhat annoyed at the cost of Netflix’s pricing plans, you’re not going to love this.
The streaming service on Thursday announced that it will be increasing the cost of some of its subscription plans in the United States, the UK, and France. Prices will be going up for the Basic and Premium plans in those three countries.
In the United States, the price of the Basic plan will jump from $9.99 to $11.99 per month, while the price of its Premium plan will increase from $19.99 to $22.99 per month. The ad-supported tier price will remain the same at $6.99 per month, as will the $15.49/month Standard plan.
The company also announced that it no longer offers its Basic plan to new subscribers in the United States, and it’s thought that prices will presumably increase for existing subscribers.
The Premium Netflix plan is the only tier that offers access to 4K video streaming and spatial audio. The $15.49 Standard plan and the ad-supported plan are limited to 1080p.
The company announced the price changes in its earnings call for the third quarter of 2023, and announced that it had added 8.8 million new subscribers, up from 2.4 million new subscribers in the year-ago quarter. Revenue came in at $8.54 billion, up from $7.9 billion last year.
Netflix’s subscriber growth comes after the service began cracking down on password sharing between households. The service also cited that cancel reaction to the password sharing limitation “continues to be low,” exceeding its expectations.
Stay tuned for additional details as they become available.