Streaming video service Netflix announced a price increase for its services for users in the US and Canada. The Ars Technica edition notes that the platform's tariffs in North America have risen in price for the seventh time in 11 years of existence.
For residents of the United States, the base fare (720p) will rise in price for the first time in three years to $9.99. The price for the standard subscription (1080p) will increase from $13.99 to $15.49, while the premium (4K) subscription will increase from $17.99 to $19.99.
Netflix users in Canada will pay CAD 1.5 more for the standard plan, at CAD 16.49.
The company says the price increase will be phased in. Current subscribers will be notified of this 30 days prior to the introduction of new rates.
Netflix explains the increase in the cost of tariffs by the fact that the company seeks to provide users with more options for entertainment, and it also intends to increase the range of content provided.
The video service is the most popular in the US, although in recent years Netflix has begun to catch up with HBO Max and Disney Plus. Subscriptions to these platforms, as well as Amazon Prime Video, Apple TV Plus, Hulu, Paramount Plus, and Peacock, are cheaper than a standard Netflix subscription. The tariffs of these sites include the option of playing video in 4K, except for Peacock.
Netflix's popularity is fueled by the presence of original content, which the company purchases from partners around the world and produces itself.
The last time Netflix services in the US went up was at the end of 2020. Then the standard and premium rates added $1 and $2 to the cost. The price of the basic subscription has remained unchanged. A year earlier, services also became more expensive.
TechCrunch believes Netflix only raised prices in 2022 so it wouldn't be accused of raising prices three years in a row.
In December last year, Netflix cut prices for its services in India by 18% to 60%. The company took such measures because of the low popularity in the country and the strengthening of competitors. The most affordable plan for Indian users costs around $2.62.
At the end of last year, Roskomnadzor added Netflix to the list of audiovisual services. In accordance with this, the platform is now obliged to comply with the requirements of Russian legislation, including broadcasting federal TV channels of the first and second multiplex.
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